The world's local bank
HSBC extends foreign currency services in China
06 June 2002
HSBC has obtained approval for all its branches in mainland China to offer foreign currency services to local citizens and corporations. With six additional licences, HSBC now has the largest network among foreign banks to serve local citizens and companies as it can offer the new service at 10 locations throughout China.
The Hongkong and Shanghai Banking Corporation Limited is expected to roll out the new service in succession to its branches in Shenzhen, Tianjin, Dalian, Qingdao, Wuhan and Xiamen within the next two months.
The bank was the first foreign bank to offer this new service in Beijing in April this year. The bank also began offering the service at its Shanghai branch and Puxi sub-branch in April and at its Guangzhou branch in May.
Eddie Wang, Chief Executive China Business, said: "Given our long-established presence in and commitment to mainland China, we are pleased to be the first foreign bank to be able to offer the new service at 10 locations in nine major cities. We are grateful for the support of the People’s Bank of China. HSBC is committed to providing first-class banking and financial services to our customers in mainland China as it is an important market for the HSBC Group."
Established in Hong Kong and Shanghai in 1865, HSBC has had a continuous presence in China for more than 136 years. In May 2000, HSBC moved its China head office from Hong Kong to Pudong, Shanghai.
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.
Useful tools
Increase font
Decrease font