HSBC to invest further in China amid political strife over Hong Kong law
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
SATURDAY, MAY 28, 2022
SATURDAY, MAY 28, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
HSBC to invest further in China amid political strife over Hong Kong law

Global Economy

Reuters
03 July, 2020, 12:45 pm
Last modified: 03 July, 2020, 12:48 pm

Related News

  • HSBC and its discordant climate songbook
  • Hong Kong police bail Catholic cardinal arrested on national security charge
  • 'Forerunners Rashid Choudhury, Murtaja Baseer, Debdas Chakraborty – their pedagogy and modernist approach' opens at Bengal Shilpalay
  • Winners recognised at the '2nd HSBC Business Excellence Awards’
  • 9 entities win HSBC Business Excellence Awards

HSBC to invest further in China amid political strife over Hong Kong law

The announcement comes at a time when the UK-headquartered bank is under fire from some shareholders and British lawmakers for its support for the new National Security Law in Hong Kong

Reuters
03 July, 2020, 12:45 pm
Last modified: 03 July, 2020, 12:48 pm
HSBC logos; Reuters/Brendan McDermid/File Photo
HSBC logos; Reuters/Brendan McDermid/File Photo

HSBC Holdings Plc said on Friday it would make new investments in its wealth management and insurance operations in mainland China.

The announcement comes at a time when the UK-headquartered bank is under fire from some shareholders and British lawmakers for its support for the new National Security Law in Hong Kong, its largest market, which critics say undermines freedoms in the city.

HSBC will establish a financial technology company on the mainland, and its life insurance joint venture in China will hire new staff to provide non-branch based wealth management services to customers in Shanghai and Guangzhou, the Asia-focussed lender said in a statement.

Many international financial institutions see opportunities in providing services to upper middle class and rich individuals in China and Asia more broadly.

HSBC hopes to be the top wealth manager in Asia in the medium to long term, Greg Hingston, the bank's regional head of wealth and personal banking told Reuters in May.

Top News / Politics

HSBC / Invests in China / Hong Kong security bill

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Mahbub Ahmed. Illustration: TBS
    Budget should focus more on inflation control than on growth
  • Protecting Hatirjheel would require striking a balance between the preservation of its natural beauty, fisheries and ease of communication. PHOTO: Mumit M
    How the Hatirjheel water taxi service can be stopped?
  • Starlink is ideal in rural or remote locations where internet access has been unreliable or completely unavailable. Photo: SpaceX
    Time for a reality check: How viable is Starlink in Bangladesh?

MOST VIEWED

  • Photo: Collected
    Gangs, inflation and political crisis bring Haiti economy to brink
  • Zhang Tieliang 76, sifts through dunes of low-grade coal near a coal mine in Ruzhou, Henan province, China November 4, 2021. Photo :Reuters
    India seen facing wider coal shortages, worsening power outage risks
  • Smoke billows from a chimney at a combined-cycle gas turbine power plant in Drogenbos, near Brussels, Belgium January 30, 2019. REUTERS/Yves Herman
    High gas prices, energy security fears impede decarbonisation push
  • U.S. one dollar banknotes are seen in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
    US Treasury pushes Russia towards default: What next?
  • The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina
    G7 calls on OPEC to play key role to ease global energy supplies
  • A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson
    Oil on track for weekly rise on global supply concerns

Related News

  • HSBC and its discordant climate songbook
  • Hong Kong police bail Catholic cardinal arrested on national security charge
  • 'Forerunners Rashid Choudhury, Murtaja Baseer, Debdas Chakraborty – their pedagogy and modernist approach' opens at Bengal Shilpalay
  • Winners recognised at the '2nd HSBC Business Excellence Awards’
  • 9 entities win HSBC Business Excellence Awards

Features

A male Baya Weaver beating wings. Photo: Enam Ul Haque

Baya Weavers weave: ‘Must be witnessed to be fully credited’

1h | Panorama
Starlink is ideal in rural or remote locations where internet access has been unreliable or completely unavailable. Photo: SpaceX

Time for a reality check: How viable is Starlink in Bangladesh?

2h | Panorama
First Look: Nissan Magnite 1.0L Turbo

First Look: Nissan Magnite 1.0L Turbo

2h | Wheels
Car myths that really need to go away

Car myths that really need to go away

2h | Wheels

More Videos from TBS

Foods that will prevent future famines

Foods that will prevent future famines

25m | Videos
Sustainable initiative of Pcycle creating employment

Sustainable initiative of Pcycle creating employment

1h | Videos
Photo: TBS

Education at Tk1 changing lives, making dreams come true

2h | Videos
Photo: TBS

An electricity bill that connects Brahmanbaria with Tripura

2h | Videos

Most Read

1
Bangladesh at risk of losing ownership of Banglar Samriddhi
Bangladesh

Bangladesh at risk of losing ownership of Banglar Samriddhi

2
Corporates go cashless…tax cut on cards
NBR

Corporates go cashless…tax cut on cards

3
Photo: Courtesy
Panorama

Misfit Technologies: A Singaporean startup rooted firmly in Bangladesh

4
Tk100 for bike, Tk2,400 for bus to cross Padma Bridge
Bangladesh

Tk100 for bike, Tk2,400 for bus to cross Padma Bridge

5
British International Investment (BII) CEO Nick O’Donohoe. Illustration: TBS
Economy

BII to invest $450m in Bangladesh in 5 years

6
Representational image. Picture: Pixabay
Economy

Govt raises regulatory duty to discourage imports of 130 products

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab