foreign banks in China

HSBC bullish on China business

HSBC last week became the first foreign bank to take advantage of relaxed rules on renminbi transfers as it injects Rmb2.8 billion into its China business.

While cutting costs elsewhere in its business, HSBC has injected Rmb2.8 billion ($442 million) into its operations in China, underlining the bank’s positive outlook on the world’s fastest-growing economy.

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