The Swiss financial website finews.com published an article in August 2020 linking the Cassis interview with a referendum in Switzerland and stated that the referendum may affect the development of Swiss banks in Hong Kong. The referendum failed in the end, and the Swiss government has always opposed the proposal. The result of the referendum did not show a direct relationship with the "deposit freeze".
The data of 100 Chinese with assets of 7.8 trillion UDS in Switzerland may come from the "2018 Billionaire Report" released by UBS and PricewaterhouseCoopers. The report stated that as of 2017, there were 373 Chinese Billionaires, and they have assets of 1.12 trillion U.S. dollars (equivalent to about 7.8 trillion UDS at the time). And the report data does not refer to their savings in Swiss banks.
Recently, a netizen on Twitter posted a picture saying, "Swiss Foreign Minister Cassis (Cassis) said: If China insists on the Hong Kong National Security Law, it will freeze 100 Chinese people's deposits in Switzerland of 7.8 trillion UDS, an average of 78 billion UDS per person, not including the gold and diamonds in the safe." The tweet received more than 3,000 likes and nearly 800 retweets.
However, the Chinese media refuted the rumors that this is false, and there are no 7.8 trillion USD. What do you think? Also putting money in Switzerland banks is it a still safe place to be?