Tuesday, August 16, 2005
HSBC Expands branch network in South west China
BEIJING (AFX) - HSBC is expanding to the southwest of China, opening its Chongqing branch today and its Chengdu branch on Sept 12, bringing its network in China to 12 branches. "The opening of the Chongqing and Chengdu branches has enabled HSBC to expand into western China for the first time," according to Richard Yorke, CEO for China of The Hongkong and Shanghai Banking Corp Ltd. HSBC first opened Chongqing and Chengdu representative offices in 1999 and 1996, and obtained approval to upgrade the two offices into full service branches in late 2004 and early 2005 respectively. The statement said the Chongqing branch will employ 29 people and the Chengdu branch 28.
