With its new banking outlet in west Shanghai, Hong Kong and
Shanghai Banking Corp (HSBC) has expanded its commercial network on
the Chinese mainland to 35 offices.
Located in Xujiahui, the most bustling commercial district of
Shanghai, the new HSBC branch targets corporate clients.
Ben Shenglin, head of commercial banking at HSBC China, said the
new branch was a major development in growing HSBC's business in
China and an opportunity to capitalize on the opening of the
banking sector.
The new branch will provide RMB and foreign currency banking
services to company clients, including fixed assets and trading
services, and loans.
HSBC branches in nine Chinese cities have been authorized to
offer RMB services to both domestic and foreign invested
enterprises.
(Xinhua News Agency January 29, 2007