(Repeats to wider distribution, no change to text) HONG KONG, Aug 20 (Reuters) - The Hong Kong government is expected to take until next year to draft an anti-sanctions law to counter actions by foreign governments, the South China Morning Post reported on Friday. The news comes as global banks and other financial institutions scramble to determine how the legislation could impact their operations in the Asian finance hub. Beijing is expected to formally approve the law for the Chinese-ruled city on Friday and then leave Hong Kong officials to hold talks to decide if the law, already adopted in the mainland, should be amended for the city, the newspaper said, citing sources. Beijing imposed the law in June under which individuals or entities involved in making or implementing discriminatory measures against Chinese citizens or entities could be put on a mainland anti-sanctions list. Under China’s law, such individuals could then be denied entry into China or be expelled. Their assets in China may be seized or frozen. They could also be restricted from doing business with entities or people in China. The new law comes after a series of sanctions by the United States on dozens of Hong Kong and mainland Chinese officials involved with a national security law Washington says is being used to crush dissent in the city, which Beijing denies. A deputy director of the State Council’s Hong Kong and Macau Affairs Office, Huang Liuquan, was expected to provide some clarity to Hong Kong officials when he visits the city next week, the South China Morning Post said. Hong Kong leader Carrie Lam said on Tuesday she did not have an explicit timetable for the law’s implementation. (Reporting By Anne Marie Roantree; Editing by Michael Perry) Our Standards: The Thomson Reuters Trust Principles.