HSBC Bank (China) has received licence from the China Banking Regulatory Commission (CBRC) Guangdong Office to open Foshan Sub-branch, a cross-city sub-branch in Guangdong province. The move is in accordance with the mainland and Hong Kong closer economic partnership arrangement.
The new Foshan Sub-branch is expected to open soon. Currently, HSBC China has 21 outlets in Guangdong province, including three branches and 18 sub-branches in Guangzhou, Shenzhen and Dongguan.
Richard Yorke, president and CEO of HSBC China, said: “The Pearl River Delta (PRD) is one of the most dynamic regions in the Mainland and enjoys close economic ties with Hong Kong and Macau. Cross-city sub-branches will enable us to further strengthen our service capacity in the PRD, which is one of our key markets in China. Leveraging HSBC’s international network and expertise, we will further expand our network and extend services in Guangdong to provide stronger financial support to the development of this region.”
Billy Leung, branch manager of HSBC Guangzhou, said: “Foshan is among the very top cities in Guangdong in terms of economic growth and overall competitiveness. As a favoured destination for overseas investors and the home of numerous domestic SMEs, it has a strong need for international banking services. The establishment of the HSBC Foshan Sub-branch enables us to leverage our resources in the Greater China region to provide tailored cross-border financial solutions to enterprises and individuals in Foshan.”
