Global banks cutting ties with Huawei

|By:, SA News Editor

More companies are distancing themselves from Huawei, while the Chinese firm faces a new hurdle: reduced access to the global financial system.

Two banks that helped power Huawei's rise as a global technology supplier, HSBC and Standard Chartered (OTC:SCBFY), won't provide it with fresh funding or banking services.

Citigroup (NYSE:C) is also putting new banking business with Huawei on review due to national security risks.

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