The Hongkong and Shanghai Banking Corporation Limited (literally translated as "The Hongkong and Shanghai Banking Corporation Limited" in Chinese, abbreviated as HSBC in English, meaning "abundant remittance" in Chinese).
The Hongkong and Shanghai Banking Corporation Limited is a wholly-owned subsidiary of HSBC Holdings Limited. It is a founding member of HSBC Group and the flagship of the Asia-Pacific region. It is also the largest registered bank in Hong Kong and one of the three largest note-issuing banks in Hong Kong (the other two are Bank of China (Hong Kong) and Standard Chartered Bank). Headquartered in the headquarters building of Hongkong and Shanghai Banking Corporation,No. 1, Queen's Road Central, the Hongkong and Shanghai Banking Corporation and its subsidiaries have set up about 700 branches and offices in the Asia-Pacific region.
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.