Yokohama Specie Bank
With the intention of boosting the Imperial Japanese influence on Hong Kong, two Imperial Japanese banks, the Yokohama Specie Bank and the Bank of Taiwan, were re-opened. These two banks replaced the Hongkong and Shanghai Banking Corporation (HSBC) and two other British banks responsible for issuing the banknotes. They then liquidated various Allied banks. British, American and Dutch bankers were forced to live in a small hotel, while some bankers who were viewed as enemies of the Imperial Japanese were executed. In May 1942, Imperial Japanese companies were encouraged to be set up. A Hong Kong trade syndicate consisting of Imperial Japanese firms was set up in October 1942 to manipulate overseas trade.