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Written by: Kong Fanxu
2020-08-12 17:47
Last update date: 2020-08-12 17:47The Sino-US struggle continues to heat up. The US Treasury Department announced sanctions on 11 Chinese and Hong Kong officials last week, including former and current police chiefs Lu Weicong and Deng Bingqiang. Solomon Yue, vice chairman of the Republican Overseas Affairs Organization of the United States, proposed to Secretary of State Pompeo on Twitter on Monday (10) that the Hong Kong Police Credit Union should be prohibited from making US dollar transactions.
The Hong Kong Police Credit Union (commonly known as the Zhazai Association), with assets of 11.6 billion yuan, sent a letter to its members this Monday, saying that it has learned that many members are worried and that it has gradually transferred assets deposited in foreign banks as early as May. To Chinese banks. Hong Kong 01 is making inquiries with the mutual aid agency and has not yet responded.
The website of the Hong Kong Police Credit Union shows that it has 11.6 billion yuan in assets.
A netizen posted a screenshot in the facebook group on the social web page last night, showing that as of June 30 this year, the Hong Kong Police Credit Union had total assets of 11,587,424,445.99 yuan, a share balance of 10,579,132,330.87 yuan, a loan balance of 108,890,391.04 yuan, and the number of members reached 45,116. People, the Mutual Aid’s webpage suddenly closed after the incident, and only displayed "Due to the maintenance of the website server, our website was temporarily suspended from the evening of August 11th to the 12th. Sorry for the inconvenience!"
It is rumored that the Hong Kong Police Credit Union has successively transferred assets deposited in foreign banks to Chinese banks as early as May. (Profile picture)
Remind members to plan ahead
According to "Apple Daily" reports, the mutual aid agency issued a notice to members this Monday (10th), stating that many members of the United States have expressed concern about a series of measures taken by the United States against Hong Kong and worried about affecting the mutual aid’s assets or investment allocation. Since May this year, assets and investments deposited in foreign banks have been withdrawn or transferred to many Chinese banks, and related work is still ongoing.
The letter also pointed out that due to social events, the new crown pneumonia epidemic and the Sino-U.S. struggle, Hong Kong’s economy was extremely volatile in the second half of the year. It reminded all members to take precautions, make appropriate financial arrangements, and emphasize that mutual aid agencies’ finances and assets are healthy and will do their utmost to protect assets. .
The Hong Kong Police Credit Union was registered in 1981 and mainly provides deposit and loan services for serving and retired police officers.
List of 11 US sanctions:
+7
+6
+5
01 Interview｜Deng Bingqiang described the US sanctions as if the underworld means forced me to make a big mistake
US sanctions | Chinese banks reportedly suspended account openings for 11 Chinese and Hong Kong officials
US sanctions | China sanctions 11 US politicians Hong Kong: Full support to the central government and cooperation in implementation
The male policeman charged with concealing his financial situation and applying for a loan from the "Zhezihui" loan was charged with five crimes of attempting to defraud.
Involved in concealing debts, borrowing 130,000 male police forms from the "Zhuzai Association" to establish a defense and argue that they misunderstood the application
CID arrested for concealing debt status fraud "Zhizaihui" loan suspended
Police Department U.S. Sanctions
