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Banks flood in

Barrister Kacee Ting Wong, vice-chairman of the Hong Kong Legal Exchange Foundation, told China Daily the police were obliged to use force to restore order, as the report said, after the protests turned violent.

Banks on the mainland have revised or will adjust their policies to facilitate credit card applications for Taiwanese compatriots, he said.

Banks that leave will come back, in the same way that some banks that left before 1997, when the city was returned to China, moved back to Hong Kong when they realized the only change was broader opportunities, he said. In fact, more banks have come to the city for business since that year, he said.

Bank of Jinzhou Co Ltd, a troubled city commercial lender whose risks were exposed last year, published its delayed 2019 results on June 26. It posted a narrower net loss of 1.11 billion yuan last year, compared with a loss of 4.54 billion yuan in 2018.