HSBC injects capital into flagship bank
By Maggie Zhang |
November 12, 2011, Saturday
|
Print Edition
Print Edition
HSBC has replenished capital to its flagship bank in China to help it expand further in the world's second-biggest economy and cement its commitment to the important market.
HSBC Bank (China) Co yesterday said its parent company, the Hongkong and Shanghai Banking Corp, has injected 2.8 billion yuan (US$444 million) to boost HSBC China's registered capital to 10.8 billion yuan. HSBC China now boasts the biggest capital base of all foreign banks on the Chinese mainland, which will help HSBC to build further on its leadership in the world's fastest-growing major economy.
The capital injection also reaffirms the HSBC's long-term commitment to the strategically important China market, the bank said.
"China's rapid wealth creation and its increasing role in global trade and capital links are opening huge market potential, and the new capital will position us strongly for further growth through these opportunities," the bank said.
In May, HSBC stressed it will invest in markets with strategic relevance and high returns.
HSBC Bank (China) Co yesterday said its parent company, the Hongkong and Shanghai Banking Corp, has injected 2.8 billion yuan (US$444 million) to boost HSBC China's registered capital to 10.8 billion yuan. HSBC China now boasts the biggest capital base of all foreign banks on the Chinese mainland, which will help HSBC to build further on its leadership in the world's fastest-growing major economy.
The capital injection also reaffirms the HSBC's long-term commitment to the strategically important China market, the bank said.
"China's rapid wealth creation and its increasing role in global trade and capital links are opening huge market potential, and the new capital will position us strongly for further growth through these opportunities," the bank said.
In May, HSBC stressed it will invest in markets with strategic relevance and high returns.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
