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HSBC expands Chinese network to 23 branches

HSBC Holdings has opened a new sub-branch in Shanghai, expanding its network in mainland China to 23 outlets.

The group claims the new sub-branch, the bank’s fifth outlet in Shanghai, is designed to meet the needs of both retail and commercial banking customers.

The sub-branch will offer a range of renminbi (RMB) and foreign currency services to both local and foreign companies, including lending, deposits, payments, foreign exchange and trade services.

RMB and foreign currency retail banking services will be made available to foreign nationals and residents of Hong Kong, Macau and Taiwan with foreign currency services provided to local residents.

We are delighted to be able to extend our services to one of Shanghai’s most dynamic districts. Wherever we operate, we choose to be close to our customers, said Richard Yorke, CEO at HSBC China.

The new sub-branch is tailor-made to best meet the needs of both personal and corporate customers, many of whom reside or operate in this part of Shanghai.