HSBC Bank (China) Company Limited
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The HSBC Bank (China) Company Limited (Ch .: 汇丰银行(中国)有限公司 , often abbreviated 汇丰中国 ) in 2007 was one of the first foreign banks operating in the People's Republic of China was founded. The bank is part of HSBC Holdings plc and is a subsidiary of Hong Kong and Shanghai Banking Corporation Limited , based in Hong Kong .
The bank has the largest branch network of any foreign bank in the People's Republic of China. The bank offers a comprehensive service for private and business customers in 37 main branches and 23 branches.
HSBC has invested over $ 5 billion in select financial institutions in the People's Republic. So you belong u. a. 19.90% of the Bank of Communications , 16.8% of the Ping An Insurance and 8% of the Bank of Shanghai .
history
The Hong Kong and Shanghai Banking Corporation opened its Shanghai branch on April 3, 1865, making it the first British company to operate in Far East Asia in the 19th century. Until between 1941 and 1945, when Japan forced HSBC and other foreign banks to leave the country, the bank had a permanent presence in the city. The HSBC has traditionally been in the HSBC building on the Bund located in Shanghai. In April 1955, HSBC turned the building over to the communist government and worked in rented rooms. The HSBC dealt to the economic reforms in the 1970s, especially with the settlement of payments in the People's Republic of China and the foreign trade accounts of the People's Republic.
The Chinese authorities offered HSBC to rent the old main building on the Bund in 1995 , but the bank turned down this offer. In 2000, HSBC moved into the HSBC tower in the Pudong district across from the Bund . In 2010 the head office of HSBC (China) was relocated to the HSBC building in the Shanghai International Finance Center (IFC), also in the Pudong district.
The Chinese Banking Authority announced on December 24, 2006 that it had allowed foreign banks to begin preparations for establishing regional subsidiaries in the People's Republic. These overseas banks, as commercial banks for Chinese citizens, are allowed to transact for banking transactions under the amount of 1 million yuan after approval by the regulatory authorities. The HSBC was one of nine foreign banks that applied for a license. On April 1, 2007, the offices of HSBC in the People's Republic of China transferred their activities to HSBC Bank (China) Company Limited and commenced operations as such on April 2, 2007. HSBC (China) has working capital equivalent to 8 billion yuan. The parent company HSBC continues to operate an office in Shanghai that is active in foreign exchange trading .
Web links
HSBC China company website