HSBC expands Shenzhen network
(Shenzhen Daily)
Updated: 2005-12-05 13:51

HSBC opened a new sub-branch in Shenzhen to meet the increased demand for banking services last week.

The new sub-branch will focus on providing “Premier” service, HSBC’s worldwide wealth management service for retail banking customers.

Richard Yorke, CEO China at the Hongkong and Shanghai Banking Corporation Limited, said: “We are delighted to be able to further expand our presence in Shenzhen. The implementation of CEPA (a trade pact between the mainland and Hong Kong) has fostered closer economic ties between Shenzhen and Hong Kong. We aim to combine our experience and resources in the two cities to provide our customers with first-class banking services.”

The new sub-branch is located at a prime location in the Shenzhen China Resources Building in the city’s downtown area. It reports to the HSBC Shenzhen branch, which opened in 1985 and has a staff of 200.

The sub-branch will provide a full range of retail banking services including foreign currency services to mainland residents, yuan and foreign currency services to foreign nationals and residents of Hong Kong, Macao and Taiwan. The sub-branch also offers 24-hour automated banking services.