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HSBC to increase stake in China despite global job cut
By Jeff Wang |
19:51 UTC+8 August 2, 2011
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Online Edition
Online Edition
HSBC will continue hiring and investing in China despite its plan to cut 30,000 jobs worldwide by 2013, its Asia Pacific chief executive said today.
The bank, which is the largest in Europe, has no intention to slow down its investment and expansion on Chinese mainland despite a moderating economic growth, said Peter Wong, chief executive of HSBC Asia-Pacific.
HSBC Asia-Pacific added its headcount by 5,000 in the past year, bringing its total staff in the region to 73,530.
The bank reported interim pre-tax earnings of US$6.8 billion in Asia Pacific, a year-on-year growth of 16 percent.
HSBC plans to cut back on activities in some parts of the world to concentrate on fast-emerging markets in Asia Pacific. In May, the bank said it planned to add about 1,000 jobs annually on Chinese mainland.
The bank, which is the largest in Europe, has no intention to slow down its investment and expansion on Chinese mainland despite a moderating economic growth, said Peter Wong, chief executive of HSBC Asia-Pacific.
HSBC Asia-Pacific added its headcount by 5,000 in the past year, bringing its total staff in the region to 73,530.
The bank reported interim pre-tax earnings of US$6.8 billion in Asia Pacific, a year-on-year growth of 16 percent.
HSBC plans to cut back on activities in some parts of the world to concentrate on fast-emerging markets in Asia Pacific. In May, the bank said it planned to add about 1,000 jobs annually on Chinese mainland.
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