Charles Schwab targets Chinese investors

Charles Schwab seeks to lure Chinese investors.
October 25, 2000
Charles Schwab, the world's biggest online brokerage, is rolling out its strategy for winning Asian customers. It is particularly interested in targeting the Chinese, who the company estimates have more than $1 trillion stashed away under mattresses or in bank deposit accounts.

The US-based company opened its first branch office in Hong Kong on Wednesday and plans to launch its online trading service by the end of the year. The company is betting its dual-pronged approach, which combines online services with bricks and mortar branches will be more successful than pure online investment companies, or pure bricks and mortar houses, of which there are becoming ever fewer.

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