China's new National Security Law for Hong Kong

That this House notes with surprise and concern the decision by HSBC Bank Plc and Standard Chartered Plc to support China’s proposals for a new National Security Law in Hong Kong; recognises that financial institutions, particularly those enjoying the benefits and protections of being based in the UK, have a duty to uphold and promote democratic principles and human rights around the world, wherever they may trade; warns that the proposed National Security Law is likely to be in direct breach of the Sino-British Joint Declaration; and calls on the Government to set out the measures it will take to encourage HSBC and Standard Chartered to review their support for that proposed legislation from the Chinese Communist Party, which has a serial record of violating human rights and undermining democratic principles.