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HSBC Increases Presence in China
The Hong Kong and Shanghai Banking Corporation (HSBC) expects to further expand its business in China's interior areas.
The bank's chairman, David Eldon, said Tuesday that his bank hopes to better implement its long-term development plan in the Chinese market.
The corporation moved its China headquarters from Hong Kong to a new office building in Shanghai last year.
The building at a cost of US$33 million was named HSBC Building Tuesday.
The bank corporation has opened nine branches and two representative offices in major Chinese cities like Beijing, Dalian, Shenzhen, Tianjin, Wuhan, Chengdu and Chongqing.
It is licensed to do Renminbi (Chinese yuan) business in Shanghai and Shenzhen.
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