HSBC has announced it will continue to expand its interests in China.
HSBC chairman Stephen Green told shareholders at an annual conference that in particular he intends to boost the banks involvement in its existing partnership with Bank of Communications (BOCOM).
The London-based bank’s commitment to Asia was underlined by the recent announcement that the bank had paid $2.2 billion for a 19.9 per cent in BOCOM. That deal followed HSBC’s acquisition of large shareholdings in the Fujian Industrial Bank, the Bank of Shanghai and the Ping An Insurance Company, as the firm continues its expansion in the territory apace.