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 | Friday, April 21, 2000, updated at 09:57(GMT+8) | ||||||||||||
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HSBC Branch in Xiamen RelocatesThe Hong Kong and Shanghai Banking Corporation Limited (HSBC) relocated Wednesday its Xiamen branch to the purchase premises in the new business district of this coastal city in east China's Fujian Province.The bank spent US$ 3.1 million purchasing office space of approximately 1,500 square meters. The new branch location will bring greater convenience to customers to better support HSBC's standard of service, said Eddie Wang, assistant general manager of HSBC China Business. HSBC has great confidence in the China market, which will provide both greater business opportunities and even stronger competition when China enters the WTO, Wang said. In 1983, HSBC was the first overseas bank to open a representative office in Xiamen, and it was upgraded to a branch in 1986. At the same time, HSBC has invested more than US$ 80 million in acquiring offices in Beijing, Dalian, Guangzhou, Shanghai, and several other cities in China's mainland. The bank now has nine branches, a sub-branch, and two representative offices in the mainland. Xiamen now has 12 business outlets and three representative offices opened by overseas banks, with total assets amounting to 928 million US dollars.
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