⁍ HSBC on Saturday denied Chinese media reports that it had ‘framed’ Huawei Technologies.

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⁍ The bank said it did not participate in the decision of the U.S. Department of Justice to investigate Huawei.

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⁍ HSBC statement comes a day after China’s official People’s Daily newspaper published a report accusing HSBC of being an accomplice of the United States.

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– The arrest of a Chinese tech exec in Canada has set off a wave of accusations against her company and her bank, HSBC. On Friday, China’s official People’s Daily newspaper accused the bank of ” framing” Huawei Technologies and lying to the Justice Department about the company’s business in Iran, reports Reuters. Meng Wanzhou, the company’s CFO, was arrested at Vancouver International Airport on Dec. 1 on a warrant from the US, where it is accused of violating sanctions on Iran. She is fighting extradition to the US. In a statement Saturday, HSBC denied the accusations. “The context of the development of the Huawei incident clearly shows that the US investigation of Huawei was not triggered by HSBC,” the bank said. “In response to information requests from the US Department of Justice, HSBC only provided factual information. HSBC has not ‘fabricated’ evidence or ‘concealed’ facts, nor will it distort facts or harm any customers for our own benefit.'”