China The Hongkong and Shanghai Banking Corporation

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hsbc logo



hsbc established shanghai branch office on 3 march 1865 , has had continuous presence in city since then, except during japanese occupation. until economic reforms of late 1970s, activities in inward remittances , export bills, activities span wider range.


on 6 august 2004, hsbc announced pay usd 1.75 billion 19.9% stake in shanghai-based bank of communications. @ time of announcement, bank of communications china s fifth-largest bank , investment hsbc 8 times bigger previous foreign investment in chinese bank. industry considered move, giving hsbc lead in race grab pieces of mainland china s banking market. year earlier, hsbc had joined hong kong s shanghai commercial bank purchase 11% stake in bank of shanghai (hsbc paid usd 62.6 million 8% stake) , usd 733 million 10% stake in ping insurance.


on 1 april 2007, mainland china offices of hongkong , shanghai banking corporation transferred subsidiary hsbc bank (china), , started operations on 2 april.








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