HSBC Bank (China)

HSBC Bank ( China) Company Limited ( Chinese: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, which was established in the People's Republic of China. The Bank is a part of HSBC Holdings plc and is a subsidiary of the Hongkong and Shanghai Banking Corporation Limited, headquartered in Hong Kong.

The Bank has the largest branch network of any foreign banks in the People's Republic of China. The Bank offers a comprehensive service for private and business customers in 37 major sites and 23 extensions.

HSBC has invested more than 5 billion U.S. dollars in selected financial institutions in the People's Republic. So you are, inter alia, 19.90% of the Bank of Communications, 16.8% of Ping An Insurance and 8% of Bank of Shanghai.

History

The Hongkong and Shanghai Banking Corporation opened its branch in Shanghai on April 3, 1865 and was thus the first British company that was active in the 19th century Far East Asia. Except for the period between 1941 and 1945, in Japan HSBC and other foreign banks forced to leave the country, the bank was a constant presence in the city. HSBC has traditionally been home to the HSBC building on the Bund in Shanghai. In April 1955, the HSBC gave the building to the communist government and worked in rented premises. The HSBC dealt to the economic reforms in 1970s primarily to the settlement of transfers in the People's Republic of China and the foreign trade bills of the People's Republic.

The Chinese authorities offered by HSBC in 1995 the rental of the old main building on the Bund in, this offer hit the bank. The HSBC drew 2000 in the HSBC Tower in the Pudong district across from the Bund. 2010, the head office of HSBC (China ) has also moved to HSBC building in Shanghai International Finance Centre (IFC ) in the Pudong district.

The China Banking Regulatory gave on 24 December 2006 that allowed them to prepare for the establishment of regional subsidiaries in the People's Republic to start foreign banks. These foreign banks are allowed to handle than commercial banks for Chinese citizens for banking transactions under a total of 1 million yuan, subject to authorization by the supervisory authorities. HSBC was one of nine foreign banks that applied for a license. On 1 April 2007, the offices of HSBC transferred in the People's Republic of China its activities to the HSBC Bank ( China) Company Limited and as such took on 2 April 2007 their activities on. The working capital of HSBC (China) corresponds to 8 billion yuan. The parent company HSBC has maintained its office in Shanghai, which is involved in forex trading.