PARLIAMENTARY WRITTEN QUESTION
HSBC: Xinjiang Tianye (17 January 2022)

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what steps she has taken in response to reports that HSBC has invested in Xinjiang Tianye Ltd, a wholly owned subsidiary of the Xinjiang Production and Construction Corps, which was sanctioned by the US for slave labour and genocide.

Asked by:
Sir Iain Duncan Smith (Conservative)

The Government has taken a number of measures to help ensure that no British organisations are profiting from or contributing to human rights violations against the Uyghurs or other minorities. We have introduced new guidance for UK businesses on the risks of doing business in Xinjiang - supported by a programme of Ministerial engagement - and announced enhanced export controls, as well as a commitment to introduce financial penalties for non-compliance with section 54 of the Modern Slavery Act. Our overseas business risk guidance makes clear to UK companies the risks of operating in Xinjiang, and urges them to conduct appropriate due diligence and consider their corporate responsibilities when making investment decisions.

Answered by:
Dame Amanda Milling (Conservative)
21 January 2022