HSBC warns it could face reprisals in China if UK bans Huawei equipment

HSBC Holdings Plc chairman Mark Tucker has warned Britain against a ban on networking equipment made by Huawei Technologies Co Ltd, claiming the bank could face reprisals in China, the Telegraph reported on Saturday.

Tucker made the claim in private representations to British Prime Minster Boris Johnson’s advisers, the newspaper reported citing industry and political sources, Reuters reported.

Britain designated Huawei a high-risk vendor in January, capping its 5G involvement at 35 percent and excluding it from the data-heavy core of the network. It is looking at the possibility of phasing Huawei out of its 5G network completely by 2023, according to officials.