(18 August 2005 – China) HSBC is pushing further into the Chinese market, opening a branch in the south west region of Chongqing.HSBC China CEO, Richard Yorke, said the new office would allow the bank to enter the massive western Chinese market for the first time.
The bank will offer a range of foreign currency and trade finance services to both local and foreign enterprises.
Yorke said HSBC would open another branch in Chengdu, which is the capital of the Sichuan Province and also in western China.
HSBC is also expanding in China by taking stakes in local banks. So far the bank has invested some US$5 billion in mainland China.