WASHINGTON, D.C. — US lawmakers have urged the government to rethink banking ties with Hong Kong, citing its "increasing role" in money laundering, sanctions evasions and reported funneling of banned technology to Russia.
The bipartisan US Select Committee on the Chinese Communist Party called on Monday on outgoing President Joe Biden's treasury secretary to reevaluate Hong Kong's unique trade privileges, which treat the financial hub as distinct from the rest of China.
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