What if ... HSBC sold Hang Seng for BoCom deal?

China’s banks are under pressure to grow internationally. HSBC wants access to the mainland. The answer to both might be an asset swap.

Companies of China are increasingly focused on international expansion, at the exhortation of Beijing.

Its desire to expand has helped support the international ambitions of local insurers such as Anbang and Fosun International, or securities firms such as Citic and Haitong. But one vital part of this sector has yet to demonstrate such assertiveness China’s banks.

Chinese individuals are remarking upon their meekness. The South China Morning Post reported that Li Ruogo, former chairman of the Export-Import Bank of China and now an executive vice-president at the International Financial Forum, claimed the international capabilities of China’s banks is not suitable for the needs of the nation’s outbound...

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