By Jing Yang and Simon Clark 

A top HSBC executive signed a petition supporting China's move to impose security legislation on Hong Kong, putting the bank squarely on the side of Beijing in the fight over the future of the territory.

The global bank, based in the U.K. but whose roots and profits grow mostly from Hong Kong and Asia, had been under pressure in recent days to come out publicly over the law. The U.S., U.K. and other Western governments have strongly objected to the new law, saying it breaches an agreement that granted Hong Kong a degree of autonomy when the U.K. handed back control of the city to China in 1997.

In a post on one of HSBC's social media accounts in China, the bank's Asia-Pacific head Peter Wong is seen signing a petition in support of the law. In the post, the bank said "HSBC respects and supports any laws that stabilize the social order in Hong Kong and revitalize economic prosperity and development in Hong Kong."

"We respect and support laws and regulations that will enable Hong Kong to recover and rebuild the economy and, at the same time, maintain the principle of 'one country two systems,'" an HSBC spokeswoman in London said when asked to comment on Mr. Wong's statement.

Mr. Wong, who also chairs the Hong Kong General Chamber of Commerce, said in an interview with China's official Xinhua News Agency published on June 3, that the national security law will bring social stability in Hong Kong. "With the backing of the rapid-developing mainland market, Hong Kong's economy will definitely walk out of the clouds and get back to the development path."

HSBC has flourished in Hong Kong since British bankers established it there in 1865 to finance trade between Asia and the West. It has tried to stay out of the political turmoil in the city.

Last week, former Pro-Beijing former Hong Kong Chief Executive Leung Chun-ying called on HSBC to express support for the new Chinese security law in a Facebook post. His request to HSBC came a day after the U.K., U.S., Canadian and Australian governments expressed "deep concern" about China's introduction of the law.

Write to Jing Yang at Jing.Yang@wsj.com and Simon Clark at simon.clark@wsj.com

(END) Dow Jones Newswires

June 03, 2020 12:50 ET (16:50 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.