page_title: The Hongkong and Shanghai Banking Corporation
section_title: China
hierarchical_section_title: The Hongkong and Shanghai Banking Corporation / Asia Pacific operations / China
caption_attribution_description: 中文: HSBC标志，2004年3月由C Ford拍摄（来自英文维基百科）。本图片在GFDL和创作共用协议下发布（见下）。 English: HSBC logo on building. Taken by C Ford - march 04.
context_page_description: HSBC, officially known as The Hongkong and Shanghai Banking Corporation Limited, is a wholly owned subsidiary of HSBC, the largest bank in Hong Kong, and operates branches and offices throughout the Asia Pacific region, and in other countries around the world. It is also one of the three commercial banks licensed by the Hong Kong Monetary Authority to issue banknotes for the Hong Kong dollar.
  "The Hongkong and Shanghai Bank" was established in British Hong Kong in 1865 and was incorporated as "The Hongkong and Shanghai Banking Corporation" in 1866, and has been based in Hong Kong ever since. It was renamed "The Hongkong and Shanghai Banking Corporation Limited" in 1989. It is the founding member of the HSBC Group of Banks and Companies, and, since 1990, is the namesake and one of the leading subsidiaries of the London-based HSBC Holdings PLC. The company's business ranges from the traditional High Street roles of retail banking, commercial banking, corporate banking to investment banking, private banking and global banking.
context_section_description: HSBC established its Shanghai branch office on 3 March 1865 and has had a continuous presence in the city since then, except during the Japanese Occupation. Until the economic reforms of the late 1970s, its activities were mainly in inward remittances and export bills, however its activities now span a wider range.
  On 6 August 2004, HSBC announced that it would pay US$1.75 billion for a 19.9% stake in Shanghai-based Bank of Communications.  At the time of the announcement, Bank of Communications was China's fifth-largest bank and the investment by HSBC was eight times bigger than any previous foreign investment in a Chinese bank. The industry considered this move, giving HSBC a lead in the race to grab pieces of mainland China's banking market. A year earlier, HSBC had joined with Hong Kong's Shanghai Commercial Bank to purchase an 11% stake in Bank of Shanghai (HSBC paid US$62.6 million for an 8% stake) and US$733 million for a 10% stake in Ping An Insurance.
  On 1 April 2007, the mainland China offices of The Hongkong and Shanghai Banking Corporation transferred to its subsidiary HSBC Bank (China), and it started operations on 2 April.
caption: HSBC logo
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