HSBC Bank (China) Company Limited has opened a branch in Shenyang, offering a full range of international banking services and further strengthening its presence in Northeast China. This is the first branch that the bank has opened following its local incorporation in China earlier this year.

Richard Yorke, President and Chief Executive Officer of HSBC Bank (China) Company Limited, said: “The opening of the Shenyang Branch is an important step in our organic growth in the Mainland market. Shenyang has a strong industrial base and is seeing rapid economic growth. With this new branch, we are able to provide the local market with international banking services in support of the country’s efforts to revitalize the Northeastern China region.”

The HSBC China Shenyang Branch, located on the ground floor of the Shenyang InterContinental Hotel, offers a comprehensive range of corporate and commercial services in foreign currency. Services provided to domestic and international companies include business finance, deposits and loans, cash management, trade services and custody and clearing.

The branch also provides foreign currency services to retail customers through HSBC Premier, the Bank’s global wealth management proposition which features one-to-one personal relationship banking, 24-hour phone banking and Internet banking. Premier customers can also enjoy preferential rates and the convenience of HSBC’s extensive overseas network.

The HSBC China Shenyang Branch is actively preparing for the launch of RMB services to both companies and individuals, and will roll out the services upon regulatory inspection and approval.

Steven Yu, Manager of the Shenyang Branch, said: “At the centre of economic development in Northeastern China, Shenyang has robust industrial and trade growth as well as strong demand for personal wealth management. We will strive to meet customer needs by providing world-class services and innovative products.”

With the Shenyang Branch opening, HSBC’s network in mainland China now comprises 40 service outlets, including 15 branches and 25 sub-branches, the largest presence among foreign banks in the Mainland. HSBC China has obtained regulatory approval to set up a branch in Dongguan, Guangdong Province, which is scheduled to be opened within the year.

(The Asian Banker)