HSBC bolsters China trade capabilities

The bank adds to tie-up with BoComm by offering new documentary credit advising.
HSBC has bulked up its China trade capabilities, announcing that it has entered into a partnership with Bank of Communications BoComm to offer documentary credit DC advising services in the country. The tie up is significant for both HSBC and BoComm, and the Mainland trade market, with HSBC becoming the first foreign bank to offer this service in partnership with a local Chinese Bank.

The joint DC advising service, known as ChinaExpress, will offer customers access to BoCommÆs 2,700 offices in 137 cities across China. More importantly for the banks, it gives the partners a key advantage over other trade banks in the country, eliminating the need for multiple correspondent bank...

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