Why is this century old multinational bank firmly optimistic about the Greater Bay Area?
2023-06-21
The HSBC Building on the west side of Haihang Road in Qianhai, Shenzhen is about to be unveiled and opened, which will become a new business center for HSBC in the Guangdong–Hong Kong–Macao Greater Bay Area. In just over a decade, Qianhai has developed from a wasteland to a new CBD in Shenzhen, which has attracted global attention, "said Qi Yaonian, CEO of HSBC Holdings Limited. As one of the core businesses of HSBC Group, HSBC, a Fortune 500 international bank headquartered in London, started in the core city of Hong Kong in the Greater Bay Area. From its opening in Hong Kong in 1865 to becoming one of the first pilot banks for the "Cross border Wealth Management Connect" business, HSBC witnessed the 158 year vicissitudes of the land of Guangdong, Hong Kong and Macao. Now, by serving Chinese enterprises to "go global", helping enterprises to "speed up" in the new economic track, and boosting green and sustainable development, HSBC, a century old "Shinise, is opening a new chapter of high-quality development in the Greater Bay Area. Taking root in Guangdong, Hong Kong and Macao, Hong Kong is one of the cities with the highest density of banking institutions in the world. Walking on the streets of Central, there are many foreign banks, The HSBC Building in Hong Kong is located at the south end of Statue Square - its buildings have undergone four generations of changes and witnessed world changes. In the mid-19th century, Hong Kong was an important Free economic zone in Asia. Watching the daily shuttle of merchant ships and busy trade in Victoria Harbour, Thomas Sutherland, a Scot who works for P&O, was keenly aware of the intense demand for financing in Hong Kong and the coastal areas of mainland China. Under his promotion, in March 1865, the Hong Kong and Shanghai Banking Corporation Limited opened in Hong Kong, and in April, the Shanghai branch opened, providing financing services for increasingly frequent commercial activities between Asia and Europe. "HSBC has been committed to becoming a financial bridge connecting China and the world," Noel Quinn said. During World War II, HSBC was forced to relocate its headquarters to London, but it returned to Hong Kong in 1946 and played an important role in Hong Kong's post-war economic reconstruction. Until 1992, after a series of mergers and acquisitions and expansion, HSBC established its global headquarters in the UK, while the headquarters of HSBC Bank in Hong Kong and Shanghai remained in Hong Kong. In the past 45 years, the reform and opening up have unleashed tremendous vitality in Guangdong, a hot land. As the manufacturing industry in the Pearl River Delta gradually takes a foothold in the international market, its demand for cross-border financial services is increasing day by day. Thanks to the implementation of CEPA (Arrangement for Establishing Closer Economic and Trade Relations), HSBC's mainland business has rapidly developed and has become the foreign-funded bank with the most branches in Guangdong. In 2011, Noel Quinn, who has worked for many years in the European and American branches of HSBC, became the head of the bank's industrial and commercial financial business in the Asia Pacific region. His family came to Hong Kong, and one of the important tasks was to further explore the Pearl River Delta market. "At that time, I would regularly go to the Pearl River Delta and other regions in the mainland to meet colleagues and visit customers, especially to help local manufacturing enterprises develop the international market," Noel Quinn recalled. The new track in the Bay Area focuses on science and technology innovation and green development. Nowadays, HSBC is the largest bank in Hong Kong and also a leading foreign bank in mainland China. For 158 years, the bank has been committed to assisting Chinese clients in expanding their markets and business globally. Looking globally, HSBC Group has branches in 62 countries and regions
Edit：luxiongfeng Responsible editor：zhaoxiaoli
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