Date
21 October 2017

Focused HSBC aims to help Chinese firms go global, Xinhua says

HSBC Holdings Plc (00005.HK) group chairman Douglas Flint said the bank will focus more on specialty businesses instead of its previous strategy of venturing onto all fronts in the financial markets, Xinhua reported Wednesday. Flint said HSBC aims to simplify its businesses and the bank has been rechanneling its resources into important markets over the last two years. Flint said HSBC aims to partner Chinese enterprises, providing them with global strategies. He said that with London poised to become an offshore renminbi trading hub, the internationalization of the currency is a prime opportunity for the bank, the report said.

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EL/AC/SK

 

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