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You know what HSBC stands for, right? H for Hongkong, S for Shanghai, B for Banking & C for Corporation — the Hongkong & Shanghai Banking Corp., Ltd., founded by the Brits in 1866. (See, e.g., https://en.wikipedia.org/wiki/HSBC)
Nothing that organization has done or does now would surprise me! Why would British bankers set up shop in China 150 years ago? Finance the trade in silk? Maybe — how ’bout opium? Great place to stash profits from many different illicit activities?
Of course HSBC is global now, but you’d never convince me that it hasn’t always been involved in “money laundering” & other nefarious schemes!
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