Despite strife over Hong Kong law HSBC eyes further investment in China
HONG KONG – HSBC Holdings Plc is all set to invest in wealth management and insurance operations in mainland China, it said in a statement on Friday.
The announcement of the UK-based bank comes at a time when it is facing flak from a section of shareholders and British lawmakers for extending support to the new security legislation imposed on the city.
The banking institution is slated to set up a financial technology company on the mainland. It also aims to provide non-branch based wealth management services to customers in Shanghai and Guangzhou through its life insurance joint venture in China by hiring new employees, it said in a statement.
Greg Hingston, the bank’s regional head of wealth and personal banking, had said in May that HSBC aspires to be the top wealth manager in Asia in the medium to long term.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field