Hongkong and Shanghai Banking Corporation Limited is a foreign-funded bank. The Chinese literal translation is "The Hongkong and Shanghai Banking Corporation Limited", the English abbreviation is HSBC, and the Chinese abbreviation is "HSBC", which means "Fenghui".
The Hongkong and Shanghai Banking Corporation Limited is a wholly-owned subsidiary of HSBC Holdings Limited, which is a founding member of HSBC Group and its flagship in the Asia-Pacific region. It is also the largest registered bank in China Mainland and Hong Kong, and one of the three largest note-issuing banks in China Mainland and Hong Kong (the other two are Bank of China (Hong Kong) and Standard Chartered Bank). Headquartered in the Hongkong and Shanghai Banking Corporation Building,No. Kloc-0, Queen's Road Central, Hongkong and Shanghai Banking Corporation and its subsidiaries have set up about 700 branches and offices in the Asia-Pacific region.
202110 On June 8th, Hong Kong Monetary Authority (HKMA) announced that HSBC could provide cross-border wealth management services.
Business:
China Hongkong:
Hongkong and Shanghai Banking Corporation opened in Hong Kong. When it opened, it took Victoria Building, owned by Sassoon Foreign Firm and located in Victoria Street (now called Bank Street) in Central as its headquarters, and obtained the right to issue banknotes. The headquarters location is similar to that of 20 12, and it was purchased at 1886 and converted into the second-generation head office address. /kloc-In the 1980s, CFBC closed down due to the loss of Ceylon coffee, and HSBC obtained the current account of the Hong Kong government from CFBC and became a quasi-central bank in Hong Kong. 1872 was authorized by the British Hong Kong government to issue 1 yuan banknotes to supplement the serious shortage of 1 yuan silver coins. After World War II, HSBC shouldered the heavy responsibility of rebuilding Hong Kong's economy. HSBC is the last rescuer of two banking crises: 1960s and 1980s. On the other hand, HSBC has set up its headquarters in Kowloon to handle accounts and services in Kowloon and the New Territories, with the HSBC Tower in Mong Kok, 673 Nathan Road, Mong Kok, Kowloon as its second headquarters. In addition, there are three HSBC centers in the 1999 Dajiaozui office complex, which belong to the first phase of the MTR Olympic Station property development plan. The original site of the HSBC Center is the bus terminal in Tai Kok Tsui. 1999. When the office building was unnamed, the developer Xinhe Group sold the office building to HSBC for HK$ 4 billion as the human resources department of the logistics headquarters, and moved part of the business of the former Mong Kok branch away, so it was named HSBC Center. HSBC is a market leader in Hong Kong. In the deposit market, the market share of HSBC in Hong Kong is 24%, while the market share of credit card balance is 29%, and the market share of mortgage loan and life insurance is about 17% and 20% respectively.
Hong Kong dollar notes:
The Hongkong and Shanghai Banking Corporation has been issuing Hong Kong dollar banknotes since its establishment, but it was mainly used for commercial transactions in the early days. Until 1935, the British Hong Kong government passed the Currency Ordinance, and HSBC was authorized to issue 5 yuan and above Hong Kong dollar banknotes (5 yuan banknotes stopped issuing immediately after 1975). Since 1994, the government has issued 10 yuan coins, and HSBC no longer issues 10 yuan banknotes (the latest issue is 1992 1). At present, the Hong Kong dollar banknotes issued by HSBC account for more than 63% of the banknotes in circulation in Hong Kong.
Acquisition of Hang Seng:
During the period of 1965, there was a banking crisis in Hong Kong, and Hang Seng Bank made several withdrawals, resulting in huge losses. On April 8, the board of directors decided to sell the controlling stake of the bank to Hongkong and Shanghai Banking Corporation, and finally HSBC acquired 565,438+0% shares of Hang Seng Bank. After obtaining the controlling stake, HSBC eliminated the most threatening rival of Hong Kong banking industry and established its monopoly advantage in the retail industry of Hong Kong banks. However, after the acquisition of Hang Seng Bank, HSBC only sent four representatives to join the board of directors and continued to maintain the original Chinese management. At present, HSBC holds 62. 14% equity of Hang Seng Bank.