HSBC expands from Bohai Rim to China's inland cities

HSBC Bank China expanded in China's Bohai Rim region by becoming the first foreign bank to open a branch in Jinan.

Other than Jinan, the capital of eastern Shandong Province, it has also obtained approval to establish a branch in Taiyuan, the capital of northwest China's Shanxi Province, thus strengthening its network in China's inland cities.

"Network expansion is pivotal to our China strategy. The Bohai Rim region, which includes Jinan, offers great potential and is one of our key focuses for business development," said Sandy Flockhart, Chief Executive Officer of HSBC Asia-Pacific.

"China's successful stimulus measures have also created exciting opportunities for inland areas such as Taiyuan, where we seek to expand our presence," Flockhart added.

Richard Yorke, President and CEO at HSBC China, said: "With the opening of the Jinan Branch, our Mainland network has reached 20 cities, the widest geographical footprint among foreign banks. As the capital city of Shandong Province, Jinan has strong demand for banking services and HSBC is well positioned to meet the demand in this market."

HSBC Jinan Branch, located in the prime business location in central Jinan, offers comprehensive banking services for both domestic and foreign companies and individuals. These services include Premier, HSBC's global wealth management proposition.