HSBC to speed up expansion in China

Richard Yorke, HSBC's China president and CEO, talks to FinanceAsia about the expansion of the lender's network and the competition among local and foreign banks in the world's fastest growing economy.

What is HSBC's expansion plan in China
We would want to open outlets in three to five new cities and add up to15 sub-branches in existing cities each year. The numbers are higher than before because under CEPA Closer Economic Partnership Arrangement Six, we can open outlets in more cities in Guangdong Province. We currently have 99 outlets in 23 cities, and are looking to opening our 100th outlet in the very near future. We opened 19 outlets last year including three new branches in three new cities, that's pretty much what we would do every year. Our geographic footprint will increase, that's very important for us from a customers' perspective. But we don't...

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