The world's local bank
HSBC opens new branches in mainland China
17 August 2005
HSBC has expanded into Western China for the first time, opening two new branches in Chongqing and Chengdu. The world’s local bank now has a network of 12 branches on the mainland.
HSBC opened representative offices in Chongqing and Chengdu in 1999 and 1996 and obtained approval to upgrade the two offices to branch status in 2004 and 2005. Employing almost 60 staff, the new branches offer foreign currency services to local and foreign-invested enterprises, Chinese citizens, foreign nationals and residents from Hong Kong, Macau and Taiwan, including deposits, loans, bills and draft discounting, letters of credit and guarantees and foreign exchange services.
Richard Yorke, CEO China of The Hongkong and Shanghai Banking Corporation Limited, said: “We look forward to serving our customers in this region and supporting China’s ‘go west’ initiatives with our international network and banking expertise.”
Media enquiries to pressoffice@hsbc.com.
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