WASHINGTON D.C.: Two U.S. lawmakers have urged the heads of major American banks to cancel their planned attendance at a Hong Kong financial summit this week, stressing that their participation would help legitimize the Chinese government's rights abuses.

The Global Financial Leaders' Investment Summit, to be held on 2nd November, is expected to be attended by the heads of some of the world's top banks and asset managers, including Goldman Sachs Group CEO David Solomon, Morgan Stanley boss James Gorman and BlackRock President Rob Kapito.

The event, which Hong Kong officials hope will mark the city's re-opening from its COVID-19 border restrictions, has angered Hong Kong activists amidst the introduction of a national security law that was used by authorities to stifle dissent.

U.S. Senator Jeff Merkley and Representative Jim McGovern, both Democrats, said the executives should "reconsider" their attendance, as it "makes them complicit" in human rights abuses by Chinese and Hong Kong authorities, as well as efforts to export an illiberal world order.

In a statement, the lawmakers also said that the bankers' attendance would give "political cover" to Hong Kong Chief Executive John Lee, who has been placed under U.S. sanctions and has refused to cooperate with U.S. sanctions on Russian assets.

Last year, the U.S. State Department warned American businesses about violating U.S. sanctions by "engaging in certain transactions" with sanctioned Hong Kong and Chinese officials.

Hoping to win control of Congress in November midterm elections, Republicans have also criticized the bank executives for their plans to attend the Hong Kong event.

Earlier this month, Representative Chris Smith said, "Examining U.S. corporate complicity in China's repression will be a top oversight item in the next Congress."