HK Banks

Guangzhou Yue Xiu makes HK bank move

Hong Kong and southern China’s financial systems look set to become more interwoven after the bid for Chong Hing, one of Hong Kong’s last independently run banks.

Mainland Chinese banks have been expanding aggressively in Hong Kong since about 2000.

Alison Tudor-Ackroyd

October 27, 2013

Guangzhou Yue Xiu Holdings has made an offer for Chong Hing, Hong Kong’s smallest family-run bank, the latest state-owned Chinese firm to pile into Hong Kong’s already overcrowded banking sector.

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