Date
18 November 2018

HSBC (China) gets green light for Shanghai FTZ branch, Sina says

HSBC Bank (China) Co., Ltd. said on Saturday that it has received regulatory approval to set up a branch in the Shanghai free trade zone, news portal Sina.com reported Saturday. The China Banking Regulatory Commission has given similar approval to Industrial & Commercial Bank of China (01398.HK, 601398.CN), Agricultural Bank of China Ltd. (01288.HK, 601288.CN), Bank of China Ltd. (03988.HK, 601988.CN), China Construction Bank (00939.HK, 601939.CN), Bank of Communications Co. Ltd. (03328.HK, 601328.CN), China Merchants Bank Co. Ltd. (03968.HK, 600036.CN), Bank of Shanghai, Shanghai Pudong Development Bank Co. Ltd. (600000.CN) and a number of overseas banks such as Citibank and DBS Bank. According to the regulations, banks have up to six months to set up the branches after obtaining approval, the report said.

– Contact HKEJ at [email protected]

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