RSSNewsletterSiteMapFeedback

Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / Finance Tools: Save | Print | E-mail | Most Read | Comment
HSBC offers Renminbi services in central China
Adjust font size:

The Hongkong and Shanghai Banking Corporation (HSBC) has started offering Renminbi services in Wuhan, capital of central China's Hubei Province.

 

The second foreign bank to open in Wuhan after Bank of East Asia (BEA) established a branch last month, HSBC has also opened its first sub-branch in the city on the Yangtze River, which is a major transportation hub, and home to higher educational institutions and one of China's major steel plants.

 

"Central China will be on the top list of all foreign banks in China when they try to expand their business," said Richard Yorke, China CEO of HSBC. "Steady policies and high growth rate of central China will draw international companies, together with capital and investment to the region."

 

In accordance with the Regulation of the People's Republic of China on the Administration of Foreign-funded Banks, foreign financial institutions must register locally incorporated banks to initiate Renminbi retail business.

 

(Xinhua News Agency October 20, 2007)

 

Tools: Save | Print | E-mail | Most Read

Comment
Username   Password   Anonymous
 
China Archives
Related >>
- HSBC's shareholding increase in BoCom expected
- HSBC earns right to set up insurance JV
- HSBC Branching Out
Most Viewed >>
-China set to hit the brakes on rising yuan
-Power to resume shortly in worst-hit area by snow
-Macao's gaming market expands further
-Online operators are on top of the game
-Insurance firms set to stump up billions

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright © China.org.cn. All Rights Reserved E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP证 040089号