British banking giants HSBC and Standard Chartered on Thursday backed China's contentious security law proposal for Hong Kong, which critics fear will be used to stamp out dissent in the city.

Beijing announced plans last month to bypass Hong Kong's legislature and impose the law, following seven straight months of huge and often violent pro-democracy protests last year.

China says the law is needed to tackle "terrorism" and "separatism" in a restless city it now regards as a direct national security threat.

Opponents fear it will be used to stifle local opposition to Communist Party rule, despite the promise of limited freedoms and autonomy for 50 years after the city's 1997 handover from Britain.

But several conglomerates with mainland business interests have in recent days issued statements supporting the bill, including the Asia-focused banking giants.

"HSBC reiterates that we respect and support laws that will stabilise Hong Kong's social order and revitalise the economy," HSBC said in a post on Chinese social media WeChat.

The statement accompanied a picture of the bank's top Asia executive, Peter Wong, signing a petition in support of the law on Wednesday.

In an interview with China's state media agency Xinhua, Wong said he hoped the law would bring "long-term stability and prosperity" to Hong Kong.

His comments came after the city's pro-Beijing former leader Leung Chun-ying publicly criticised the British bank for not publicly supporting the law while profiting from its Chinese business interests.

London-based Standard Chartered also lined up to support the laws, saying they hoped details of its provisions would "enable Hong Kong to maintain economic and social stability".

And British multinational Jardine Matheson took out a full-page advertisement in a local newspaper on Wednesday to pledge its support for the bill.

The firms' support of the law is at odds with the British government, which says the bill breached the agreement signed with China to govern the territory after the 1997 handover.

British Foreign Minister Dominic Raab said Tuesday he had spoken to allies including the United States and Australia about potentially opening their doors to Hong Kongers seeking to leave the city if the law is passed.

Hong Kong legislature votes for law banning national anthem insults
Hong Kong (AFP) June 4, 2020 - Hong Kong's legislature voted Thursday for a Beijing-backed law banning insults to China's national anthem, a move critics say further stifles dissent in the restless semi-autonomous financial hub.

Lawmakers approved the bill with 41 in favour and one against, but the 75-seat chamber's pro-democracy faction refused to vote and instead shouted slogans denouncing the law.

The vote came as Hong Kongers marked the 31st anniversary of China sending tanks and troops to crush pro-democracy protests in Beijing's Tiananmen Square, and opponents rallied around the symbolism of the timing.

One lawmaker threw a foul-smelling liquid on the legislature's floor in a bid to halt proceedings.

Others gave impassioned speeches denouncing the law, which carries up to three years in prison and fines for anyone who insults the "March of the Volunteers".

"If you want people to respect the national anthem, I'm afraid you have chosen the wrong approach, it is counter-productive," pro-democracy lawmaker Wu Chi-wai said during the debate.

Wu quoted the first line of the anthem, a revolutionary call to arms that declares: "Arise ye who refuse to be slaves."

"The Central People's Government is suppressing us and we are forced to become slaves of this regime," Wu added.

The legislature is stacked with pro-Beijing lawmakers, and only half the chamber is elected by popular vote.

Hong Kong's government has rejected the idea the anthem law restricts political freedoms, saying many other nations have similar laws.

"Some people said this is a vicious law and will suppress our freedom of speech. That does not exist at all," Constitutional and Mainland Affairs Minister Erick Tsang told reporters after the vote.

He said people would only be prosecuted if they "openly and deliberately" insulted the anthem.

Beijing has been infuriated by Hong Kongers -- especially football fans -- booing the national anthem in recent years to signal dissatisfaction with China's rule.

Widespread anger towards Beijing and city leaders exploded last year with seven straight months of huge and often violent pro-democracy protests.

Once those protests abated, Beijing urged Hong Kong's leaders to push ahead with laws similar to those on the mainland outlawing insults to the anthem.

They have also announced plans to impose a new national security law that will bypass the often gridlocked local legislature, a move that has sparked significant alarm.

Under a deal agreed with Britain ahead of the 1997 handover, China agreed to allow Hong Kong to keep certain freedoms and autonomy.

Many Hong Kongers fear those freedoms are being prematurely eroded, a charge Beijing rejects.

The new anthem law needs to be signed by Chief Executive Carrie Lam and is expected to become effective from 12 June.

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