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HSBC plans internet banking service in mainland China
16 October 2002
HSBC has been given approval to launch personal internet banking services for customers in mainland China, one of the first foreign banks to receive a licence.
Internet banking should be up and running for customers in mainland China by the end of 2002. They will join HSBC's existing online customer base of 3.6 million customers across 19 countries worldwide.
HSBC, which already has over 3.6 million customers online in 19 countries worldwide, plans to have an internet banking service for customers in mainland China up and running by the end of 2002.
Eddie Wang, Chief Executive China Business at The Hongkong and Shanghai Banking Corporation Limited, said: "We are delighted with this development, which opens a new chapter for HSBC's personal financial services in mainland China. We seek to build on the bank's successful internet banking experience in many countries around the world and provide quality online banking services to customers in the China market."
The new licence, granted by the People's Bank of China, China's central bank, allows HSBC to provide a wide range of online personal banking services in mainland China including:
- Account balance and transaction enquiries;
- Transfers to local mainland China and overseas banks;
- Exchange and interest rate enquiries;
- Term deposit account opening and enquiries;
- Support services including cheque book ordering, statement downloads and personal details updates.
HSBC has the largest branch network among foreign banks in mainland China, comprising nine branches in Beijing, Dalian, Guangzhou, Qingdao, Shanghai, Shenzhen, Tianjin, Wuhan and Xiamen, a sub-branch in Puxi, Shanghai and representative offices in Chengdu and Chongqing. Earlier in the year, the Bank launched foreign currency services for mainland Chinese citizens and companies at 10 locations in nine major cities across the country.
Established in Hong Kong and Shanghai in 1865, HSBC has had a continuous presence in China for more than 136 years.
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