HSBC denies framing up Huawei

HSBC denied Chinese media allegations that it had "framed" Huawei Technologies and was instrumental in the arrest of the latter's chief financial officer Meng Wanzhou.

In the bank's WeChat account, the London-headquartered denied participating in the decision of the US Department of Justice to investigate Huawei.

China's official People's Daily newspaper published a report a day before accusing HSBC of being an accomplice of the US and lying about Huawei, resulting in Meng's arrest in December 2018 at Vancouver International Airport.

The newspaper claimed that HSBC was aware of Huawei's business in Iran, and had been "setting traps" for against it since 2012.

China Global Television Network made similar allegations against HSBC.

Meng is accused by the US of bank fraud for misleading HSBC about Huawei's relationship with a company operating in Iran, causing HSBC to break American sanctions on Tehran.

HSBC said that the Huawei incident's development clearly shows that it did not trigger the US investigation of Huawei, adding it has no malice against the Chinese firm, nor has it 'framed' the latter.

HSBC emphasized that it only provided factual information in response to requests from the US Department of Justice and that it did not fabricate evidence or concealed facts, nor will it harm customers or distort facts or for its benefit.