HSBC China news
8 October 2008
8 October 2008
HSBC Bank (China) Company Limited's Zhengzhou Branch officially opens today, making HSBC the first foreign bank to enter China's central Henan Province, of which Zhengzhou is the capital. This is HSBC China's 18th branch, which extends its network to 75 outlets, the largest presence among foreign banks in China.
Richard Yorke, Group General Manager, President and Chief Executive Officer of HSBC China, said:"Central China is one of the key markets in HSBC's China strategy and Zhengzhou is at the heart of this region. The region has experienced rapid economic growth in recent years and, with this, has a growing need for international banking services. HSBC will support our customers and local economy with our international expertise. The Zhengzhou Branch opening further demonstrates our support for the government's Central China development programme, which we also support through our branches in Hunan and Hubei Provinces."
The HSBC Zhengzhou Branch will initially focus on providing corporate banking services. Leveraging HSBC's international network and expertise, the new branch offers a comprehensive range of banking services in RMB and foreign currency to domestic and foreign companies, including tailor-made business finance solutions, deposit and loan services, trade services as well as payment and cash management services. The branch also offers personal financial services to both overseas and local residents in the region.
Lisa Yan, HSBC Zhengzhou Branch Manager, said: "We will initially focus on providing support to local corporations seeking overseas expansion as well as to international companies investing in Henan Province. Going forward, we shall also expand our retail banking services to better serve our individual customers."
Located in Zhengzhou's Zhengdong New District - a rapidly developing new business area in the city -- HSBC Zhengzhou Branch has a staff complement of 32 people.
HSBC China Opens Zhengzhou Branch/2
Media enquiries to Dan Dan Chang on [86] (21) 3888 1807.
Notes to editors
1. HSBC Bank (China) Company Limited HSBC Bank (China) Company Limited started operations on 2 April 2007 as a wholly-foreign-owned bank solely owned by The Hongkong and Shanghai Banking Corporation Limited. HSBC Bank (China) incorporated the previous mainland China offices of The Hongkong and Shanghai Banking Corporation Limited.
HSBC China's network currently comprises 75 outlets, including 18 branches (in Beijing, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Guangzhou, Hangzhou, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Tianjin, Wuhan, Xiamen, Xi'an and Zhengzhou) and 57 sub-branches. HSBC China has obtained regulatory approval to set up a branch in Ningbo and Jinan. HSBC China's headquarters is based in Pudong, Shanghai.
2. The Hongkong and Shanghai Banking Corporation Limited HSBC Bank (China) Company Limited started operations on 2 April 2007 as a wholly-foreign-owned bank solely owned by The Hongkong and Shanghai Banking Corporation Limited. HSBC Bank (China) incorporated the previous mainland China offices of The Hongkong and Shanghai Banking Corporation Limited.
Established in Hong Kong and Shanghai in 1865, The Hongkong and Shanghai Banking Corporation Limited is the founding and a principal member of the HSBC Group. The Hongkong and Shanghai Banking Corporation Limited has a branch in Shanghai, which conducts foreign currency wholesale banking business. With around 9,500 offices in 85 countries and territories and assets of US$2,547 billion as at 30 June 2008, the HSBC Group is one of the world's largest banking and financial services organisations.
