HSBC denies 'framing' Huawei princess

HSBC invited Huawei Technologies chief financial officer Meng Wanzhou to have a face-to-face meeting in Hong Kong in August 2013 regarding the technology giant's business ties in Iran, China's state-backed news channel CGTN reported, citing a source.

In an interview with CGTN, the source said no e-mail invitation had been sent for the meeting.

This differs from a Reuters report that said HSBC's then deputy head of global banking for the Asia Pacific, Alan Thomas, met with Meng at Huawei's request.

Meng, daughter of Huawei founder Ren Zhengfei, is accused by the US of bank fraud for misleading HSBC about Huawei's relationship with a company operating in Iran, putting HSBC at risk of fines and penalties for breaking US sanctions on Tehran.

In the meeting, Meng told the HSBC executive that Huawei's operations in Iran complied strictly with applicable laws and US sanctions.

Meng later provided Thomas with a PowerPoint presentation in English which stated that Huawei had sold its shares in Skycom and that she was no longer on its board, according to the Reuters report.

The presentation described Skycom as a Huawei "business partner" in Iran. That presentation - which the US alleges contained "numerous misrepresentations" - plays a central role in the US case against Meng.

HSBC on Saturday said it did not participate in the US department of justice decision to investigate Huawei in a statement posted on the bank's Chinese WeChat messaging service account.

"In response to information requests from the US department of justice, HSBC only provided factual information. HSBC has not 'fabricated' evidence or 'concealed' facts, nor will it distort facts or harm any customers for our own benefit."

HSBC's statement came a day after China's official People's Daily newspaper published a report accusing HSBC of being an accomplice of the United States and lying about Huawei, resulting in Meng's arrested.

Also, on Friday, the Shenzhen branch of China Banking and Insurance Regulatory Commission approved HSBC's request to shut down a branch based in Shenzhen's northeastern Longgang district.

HSBC terminated its partnership with Huawei in 2017, Reuters reported.

Shares of HSBC fell 1.81 percent to HK$35.35 on Monday.

Separately, Huawei has cut its India revenue target for 2020 by up to 50 percent and is laying off more than half of its staff in the country, the Economic Times reported on Monday.

Editorial: Page 4