HSBC China received approval from the China Banking Regulatory Commission CBRC to offer the new service in Beijing, Guangzhou and Shanghai.
ôWe are pleased with the establishment of a private banking business in China, says Monica Wong, HSBC private bank chief executive Asia. This move underscores our commitment to one of AsiaÆs fastest growing markets. The creation of wealth in China is a unique phenomenon in that greater wealth is being generated by a relatively younger age group...
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