HSBC, the largest bank in Europe, opened a global operation
center in the city of Foshan, Guangdong Province, early this week,
signaling its confidence in the prosperous Pearl River Delta region
and the entire mainland market.
The new global operation center provides a wide range of
financial and banking services, including credit cards, bank loans,
insurance, and management of human resources to foreign-funded
companies, joint ventures, domestic firms and individuals.
"We are glad to open a global operation center in Foshan which
is located about 20 km away from Guangzhou, the provincial
capital," Vincent Cheng Hoi Chuen, chairman of HSBC Asia-Pacific,
"The good investment climate, the advanced infrastructure and
great support from local government have made the city an ideal
place for HSBC to open a global operation center."
Cheng said he believed the Foshan center would help HSBC further
develop its business in the fast growing mainland market in the
Chen Yunxian, mayor of Foshan, said the HSBC global operation
center would help accelerate the city's development of the
financial, hotel, leisure, entertainment and manufacturing
industries in the years ahead.
Foshan city government has given top priority to the development
of the financial industry.
Foshan's Chancheng District has invested more than 150 million
yuan to shut down or move away a large number of ceramic production
factories and other manufacturing facilities in the city proper to
make way for the development of the city's financial industry.
Foshan city government has introduced a series of preferential
policies to support offshore financial institution development in
Chen said his government would try to offer its best service to
HSBC and other foreign companies in Foshan.
He predicted the HSBC global operation center would help create
more employment opportunities for local residents and talent from
around the world.
Big-name overseas and domestic financial groups, including
US-based AIG and China Merchant Bank, have established regional
headquarters in Foshan.
(China Daily December 7, 2007)