There are three major banks in Hong Kong: HSBC, Standard Chartered Hong Kong, and BOC Hong Kong. The full English name of HSBC (abbreviated as HSBC), and its literal translation in Chinese is "Hong Kong and Shanghai Banking Corporation Limited". Standard Chartered Bank is one of the foreign banks with the longest history in China. BOC Hong Kong, as a pilot bank, will be an agent for opening mainland bank accounts from March 20, 2019.
1. HSBC made its fortune and emerged on the banks of the Hong Kong River. It is also one of the three major commercial banks in Hong Kong with the right to issue Hong Kong dollars (the other two are Bank of China and Standard Chartered Bank) . As an international financial institution, HSBC's business scope covers Europe, Asia, North America, Latin America, the Middle East and North Africa, but a closer look at its statements will reveal that Hong Kong, China, is its real profit core.
According to the first quarter report released on April 28, 2020, HSBC Holdings’ total revenue in the first quarter (after deducting “expected credit losses”, the following are all data of the same caliber) was US$10.66 billion, a year-on-year increase of US$10.66 billion. down 23%. In the first quarter, pre-tax profit was US$3.23 billion, and net profit was US$2.25 billion, down 51% from the same period last year, and net profit was almost halved.
2. Standard Chartered Bank As one of the foreign banks with the longest history in China, Standard Chartered Bank has never stopped its business in China since it established its first branch in Shanghai in 1858. In April 2007, Standard Chartered Bank (China) Co., Ltd. became one of the first batch of local corporate banks.
3. BOC Hong Kong, as a pilot bank, will be an agent for opening mainland bank accounts from March 20, 2019. The account can be used to bind a mainland mobile wallet to enjoy payment convenience for daily consumption in the mainland. Gong Yangenci, Vice President of BOC Hong Kong, said that the construction of the Greater Bay Area has entered a new stage of comprehensive advancement.