HSBC Bank

ThesynonymTheHongKongandShanghaiBankingCorporationgenerallyreferstoHSBC's

business

HongKong,China

TheHongkongandShanghaiBankingCorporationtakesHongKongbusinessasthestartingpoint,andwhenitopened,itusedSassoon,oneofitsshareholdersatthetime.WesternBankownstheVictoriaBuildingonVictoriaStreet(nowknownasBankStreet)inCentralasitsheadquartersandobtainstherighttoissuenotes.Thelocationoftheheadquartersissimilartothatof2012,anditwaspurchasedin1886andrebuiltintothesecond-generationheadoffice.Inthe1880s,CABCAcloseditsbusinessduetothefailureofCeyloncoffee.HSBCobtainedthecurrentaccountoftheHongKonggovernmentfromCABCAandbecamethequasi-centralbankofHongKong.In1872,itwasauthorizedbytheBritishHongKonggovernmenttoissue1yuanbanknotestosupplementthesevereshortageof1yuansilvercoins.AftertheSecondWorldWar,HSBCshoulderedtheheavytaskofrebuildingHongKong'seconomy.HSBCwasthelastsaviorinthetwobankingturmoilinthe1960sand1980s.Ontheotherhand,HSBCbuiltaheadofficeinKowloontohandleaccountsandservicesintheNewTerritoriesofKowloon,andtheMongKokHSBCBuilding,673NathanRoad,MongKok,Kowloonasthesecondheadquarters.Inaddition,HSBC'sofficebuildinginTaiKokTsuiin1999QunshangmovedtotheHSBCCenter.TherearethreeHSBCCenters,whichbelongtothefirstphaseoftheMTROlympicStationPropertyDevelopmentPlan.TheHSBCCenterwasoriginallylocatedattheTaiKokTsuiPierBusTerminal.In1998,whentheofficebuildingwasunnamed,thedeveloperSinoGrouptooktheofficebuilding.SoldtoTheHongkongandShanghaiBankingCorporationforHK$4billiontoserveasthehumanresourcesdepartmentofthelogisticsheadquartersandrelocatedpartoftheoriginalMongkokbranch,hencethenameHSBCCenter.HSBCisthemarketleaderinHongKong.Inthedepositmarket,HSBCHongKonghasamarketshareof24%,whilecreditcardbalanceshaveamarketshareof29%,andmortgageandlifeinsurancemarketshaveamarketshareofapproximately17%.And20%.

HongKongdollarbanknotes

The2010versionofHSBCHongKongdollars(6cards)

SincetheestablishmentoftheHongkongandShanghaiBankingCorporation,HongKongdollarbanknoteshavealwaysbeenissued,butatthebeginningtheyweremainlyusedforcommercialtransactions.Itwasnotuntil1935thattheBritishHongKonggovernmentpassedthecurrencyregulations,andHSBCwasauthorizedtoissueHongKongdollarbanknotesofmorethan5yuan(theissuanceofthe5yuanbanknotewasterminatedimmediatelyafteritwasissuedin1975).Since1994,thegovernmentissued10yuancoins,andHSBCnolongerissued10yuannotes(thelatestonewasissuedonJanuary1,1992).Atpresent,HSBC'sHongKongdollarbanknotesareissuedaccountformorethan63%ofallbanknotesincirculationinHongKong.

AcquisitionofHangSeng

In1965,therewasabankingcrisisinHongKong.HangSengBankhadseveralaccrualincidentsandsufferedhugelosses.OnApril8,theboardofdirectorsresolvedtosellthebank'scontrollinginteresttoTheHongkongandShanghaiBankingCorporation,andHSBCfinallyacquired51%ofthesharesofHangSengBank.Afterobtainingacontrollingstake,HSBCeliminatedthemostthreateningrivalinHongKong'sbankingindustryandestablisheditsmonopolyadvantageinHongKong'sbankingretailindustry.However,afterHSBCacquiredHangSengBank,itonlysent4representativestotheboardofdirectorsandcontinuedtomaintaintheoriginalChinesemanagement.HSBCcurrentlyholdsa62.14%stakeinHangSengBank.

AutomatedTellerMachines

In1980,theHongkongandShanghaiBankingCorporationintroducedanautomatedtellermachinenetworkcalled"ETC"(ETC,writteninfullasElectronicTellerCard).Initially,ETCwasonlysetupinthedowntownareaof​​theCentralDistrict,andlateritwassetupinalldistrictbranches,andthenetworkwasexpandedtoMacau.Atpresent,inadditiontotheHongkongandShanghaiBankingCorporation,itssubsidiaryHangSengBankalsousestheETCnetwork,andothercommercialbanksinHongKongandMacauusetheJETCOnetwork.Inaddition,theHongkongandShanghaiBankingCorporationandHangSengBanklaunchedaself-serviceaccountcheckingsystemin1991,called"QuickCheck",whichiscalled"UncleMagnum"inadvertisements.Customerscancheckaccountbalancesthroughtheirbankcards.However,since2012,electronicbankingserviceshavebecomepopular.YoucanusetheInternetandtelephonetocheckaccounts,plussecurity,privacyandotherissues(youcancheckaccountbalanceswithoutprovidingapassword).Allweredemolishedinmid-April.

InternetBanking

WiththedevelopmentoftheInternet,HSBCalsoprovidesonlinebankingservices,includingfundsubscriptionandforeigncurrencytimedeposits(exceptfornon-HongKongResidentsarenotallowedtoengageinfixeddepositinvestmentinRMB,otherforeigncurrenciesareacceptable),tradingofHongKongstocks,bonds,derivatives,gold,andsubscriptiontostockfundswithfixeddeductionsfromtimetotime,etc.

SocialImpressions

HSBCclosedanumberofpoorlyprofitablebranchesinHongKongin2012,causinginconveniencetoresidentsinremoteandpoorareasofHongKong.Publicopinioncondemns,butHSBCstillhasaloftypositioninHongKong.WhenHongKongpeoplebuystocks,itispopulartobuyHSBCassavings,believingthatitsmanagementcancontinuouslyincreasethevalueofthecompany.Itsdividendhasremainedstableforalongtime,andithasalsoestablishedanimageof"dividinginterestwiththepeople".In2006,theHongKonggovernmentimplementedafive-dayworksystem,butHSBCwenttheotherway,extendingtheservicehours,buthiringmoreemployees(butbranchesintheindustrialzoneareclosedalldayonSaturdayandeveryday).ThetwohavebecomeacomparisonObject.

LinSenchi,formervicepresidentofMerrillLynchHongKong,oncepointedoutthatifHongKongpeopleboughtHSBCstocksforHK$10,000eachyearstartingin1977,thedividendswouldbeenoughtobuy10,000yuanfromthe10thyear.stock.Thirtyyearslater,themarketvalueofHSBChasincreasedbymorethan80times,withanannualdividendofmorethan500,000HongKongdollars.Atthattime,somepeoplejokedthattoinvest,theyonlyneedtolearn4words-HSBC,toreflectHongKongpeople'sattitudetowardsthebank.However,thehugemarketvalueofHSBCkeepsthestockpriceintactforalongtime.Theinvestmentcommunitycallsitthe"bigelephant".Whenthestockpriceofthe"bigelephant"takesoffrapidly,theoutsideworldoftenregardsthisasgoodnews,orthestockmarkettrendcanbehot.Signal.Thereisalsoabuzzwordintheinvestmentcommunitythat"ChristmasBell,buyHSBC",thinkingthatbuyingHSBConChristmasEvewillundoubtedlymakeaprofit,butthefolkwisdomin2012hasprovedtobeuntenable.InMarch2009,HSBCannouncedits2008full-yearresults.Itrecordedasharpdeclineinearningsthathasbeenraresince2012.In2008,itsearningsfellsharplybynearly70%comparedto2007,andannouncedarightsissuetoraisefunds.Aftertheannouncement,thepriceofForexHoldingsdroppedsharply,droppingby18%inasingleday,andthestockpricereturnedtothepriceinthemid-1990s.

BankDuties

HSBC,StandardCharteredBankandBankofChinaHongKongarealsoauthorizedbytheHongKongMonetaryAuthoritytoissuebanknotes.Inadditiontoissuingbanknotes,HSBCalsoThemainclientsoftheHongKonggovernment.

CharityFund

TheHSBCBankCharityFundisaregisteredcharityfundinHongKong.Provideongoingfunding.

HelpingEnterprises

TheSocialCouncil-HSBCSocialEnterpriseBusinessCenterisabusinesscenterinHongKongcreatedbyagatheringofforcesfromallwalksoflife,providingdiversifiedservicesforsocialenterprises,Includingrecruitingprofessionals(includingHSBCemployees)toprovideprofessionaladviceandconsultingservicestosocialenterprises.ThecenterisfundedbytheHSBCCharityFund.

MainlandChina

• ShanghaiBranch:ShanghaiisthebirthplaceofHSBC.The"S"letterinHSBC'sEnglishabbreviationHSBCreferstoShanghai.In1864,severalBritishbusinessexecutivesinShanghaiproposedtoraisefundstosetupabankwhilechatting.Inthesameyear,DavidMcLean(President)oftheBritishChamberofCommerceandDevelopmentBankofEnglandlearnedthatthebankwasgoingtosetupabranchinShanghai.Becausehewasoptimisticabouttheprospectsofthebankingindustry,heimmediatelyreturnedtoChinatoraisefundsandreturnedtoShanghaithefollowingyearwithahugeamountofmoneytoestablishHSBC.Shanghaibranch.TheturnoveroftheShanghaibranchofHSBCnotonlyranksfirstamonglocalbranches,butalsofarexceedsthatoftheHongKongheadofficefromthebeginningofitsestablishment.SimilartoSassoonBank,oneofthefoundingshareholdersofHSBC,afteraperiodofestablishment,HSBCshifteditsbusinessfocusfromHongKong,whichwasslowatthetime,toShanghai.UntiltheWarofResistanceAgainstJapan,ShanghaiwasthemostimportantmarketforHSBCintheworld.AftertheWarofResistanceAgainstJapan,HSBC'spositioninShanghaiwasnotasgoodasthatofAmericanbanks.AfterthefoundingofNewChinain1949,HSBCwastheonlyforeignbankthatstayedinShanghai.Itwasfoundthatoperatingincomewasfarinferiortotheexpensesfordailymaintenanceoftheproperty,sohehadtocompletelywithdrawfromtheShanghaimarketin1955.FromthelateQingDynastytotheRepublicofChina,HSBCShanghaiwasthemaincollectionagencyfortheChinesegovernmenttorepayforeigndebtsandindemnities.In1915,thetotalgoldandsilverstocksofallChineseandforeignfinancialindustriesinShanghaitotaled80.99milliontaels,ofwhichChineseCommercialBankandbankaccountedfor17.3%,other9foreignbanksaccountedfor44.3%,andHSBCaccountedfor38.4%.In1926,HSBC'stotalissuanceof42.95millionHongKongdollarsaccountedfor24.2%inHongKong,only4.6%inothercountries,and71.2%inmainlandChinawithShanghaiasthefocus.In1936,HSBC'sbankdepositstotaledUS$255million,ofwhichUS$153millionwasabsorbedinChina,accountingfor59.9%,accountingfor43.4%ofthetotaldepositsreceivedbyforeignbanksinChina,andtheShanghaibranchaccountedforalargeproportionofthem.Inaddition,theforeignexchangetradedbyHSBCoftenaccountsfor60%-70%oftheturnoverintheShanghaiforeignexchangemarket.From1921to1923,HSBCbuilta7-story,14-acre,neoclassicalShanghaiHSBCbuilding(nowNo.12ontheBund)inShanghai’sfinancialcenter,theBund(belongingtotheShanghaiPublicConcession).,IstheheadquartersofShanghaiPudongDevelopmentBank),thisbuilding,knownas"themostluxuriousbuildingfromtheSuezCanaltotheBeringStraitintheFarEast",hasaconstructionareaof​​23,000squaremeters,anditscostis10timesthatoftheHongKongheadofficeatthattime.TheexquisitelycarvedappearanceandtheGreek-stylecirculardomethrustintothesky.ThisnewbuildingnotonlystrengthensHSBC’sleadingpositioninthebankingindustryinShanghai,butalsoimmediatelybecameanewlandmarkinShanghai,thefinancialcenteroftheFarEast..ItisstillrecognizedasthemostbeautifulbuildingintheBundcomplex.

• Guangzhoubranch:HSBCopenedabranchinGuangzhouinJune1865.In1920,a4-storybuildingwasbuiltintheBritishConcessionofGuangzhou,Shamian(nowShengliHotel,No.54ShamianStreet),withadomeatthecorner.Now,togetherwiththeentireShamianmodernbuildingcomplex,itislistedasanationalkeyculturalrelicsprotectionunit.

• Hankoubranch:openedin1866,builtatwo-storybuildingontheriverbeachintheEnglishConcessionofHankou.From1913to1920,itwasrebuiltintoaluxuriousclassiciststyle4-storybuildingwithabuildingareaof​​10244squaremeters.ThefrontcolonnadeadoptsIoniccolumns.Closedin1949.ItistheWuhanbranchofChinaEverbrightBank.ItwasoncelistedasaculturalrelicsprotectionunitinHubeiProvince.In2006,itwaslistedasanationalkeyculturalrelicsprotectionunitaspartoftheHankoumodernarchitecturalcomplex.

• Shantoubranch:openedin1866.

• Fuzhoubranch:openedin1866.LocatedonCangshanTatingRoad,itisatypicalcolonialvouchercorridor-stylebuilding.Itiswhite-faced,twostorieshigh,withsevenroomsinsideandabasement.Itwasclosedin1949andchangedtothedormitoryoftheFuzhouSecondHospital.Itwasseverelydamagedduetodisrepairovertheyears,andwasrestoredin2009.ItisnowFuzhouCangshanCulturalCenter.

• Ningbobranch:openedin1866.

• Xiamenbranch:openedin1873.HaihouRoad(nowLujiangRoad)intheBritishConcessionwasinitiallyestablished.RelocatedtoGuxinRoadonGulangyuIslandin1938.Closedin1950.ThesiteofGuxinRoadisthedormitoryoftheshipyard.

• Yantaibranch:openedin1876.LocatedonZidaRoad(nowCustomsStreet),avoucher-stylebungalowwasbuiltin1921andlistedasaculturalrelicsprotectionunitinYantaiCity.

• Jiujiangbranch:openedin1879.

• Beihaibranch:openedin1880.

• Macaubranch:openedin1881.

• Tianjinbranch:openedin1882.In1925,aclassic-stylebankbuildingwasbuiltonthecornerofVictoriaRoad(nowNo.84JiefangNorthRoad)andConsulRoad(nowDatongRoad)intheBritishConcessionofTianjin,withagorgeousvouchertopandthefrontcolonnadealsoadoptsIoniccolumns.Mode.DesignedbyTongheengineers.Closedin1954.NowitistheTianjinBranchofthePeople'sBankofChina.ListedasaculturalrelicsprotectionunitinTianjin

• Beijingbranch:openedin1889.In1902,aRenaissance-stylebuildingwasbuiltinDongjiaominLane.Itclosedin1955andwasoccupiedbytheBeijingMunicipalPublicSecurityBureau.Afterthe1980s,itwasdemolishedforwideningtheroad.

• Niuzhuang(Yingkou)branch:openedin1892.

• Zhenjiang:Anagencywasopenedin1894.

• Qingdaobranch:openedin1912.In1917,aGerman-stylebuildingwasbuiltattheintersectionofGuantaoRoadandWusongRoad.

• Harbinbranch:openedin1915,locatedatDaolishuidaoStreet(nowNo.37ZhaolinStreet),andbuiltaclassiciststyle4-storybuildingin1923.Closedin1941.ItisusedbytheBankofChinaandislistedasafirst-classprotectedbuildinginHarbin.

• Fengtian(Shenyang)branch:openedin1917,andbuiltaclassiciststyle5-storybuildingattheintersectionofYiyiweiRoadandSanjingStreetfrom1931to1932.ItisusedbytheShenyangbranchoftheBankofCommunicationsandislistedasaculturalrelicsprotectionunitinLiaoningProvince.

• Dalianbranch:openedin1922.In1925,afour-storybuildingwithaslightlyRenaissancestylewasbuiltatNo.61,YuguangStreet,ZhongshanDistrict.UsedbyIndustrialandCommercialBankofChina.

• Chongqingbranch:openedin1943.

MainlandChinaModern

OnApril2,2007,HSBCBank(China)Co.,Ltd.officiallyopeneditsheadofficeinShanghai,China.Awhollyforeign-ownedbankwholly-ownedbyHSBCBankCo.,Ltd.,itspredecessorwastheoriginalMainlandChinabranchofTheHongkongandShanghaiBankingCorporationLimited.

In2014,HSBCChinahadatotalof135branches,ofwhich29brancheswerelocatedinBeijing,Shanghai,Guangzhou,Shenzhen,Tianjin,Xiamen,Jinan,Qingdao,Nanjing,Hangzhou,Suzhou,Kunming,Chongqing,Chengdu,Taiyuan,Xi’an,Wuhan,Changsha,Dalian,Hefei,Zhengzhou,Ningbo,Harbin,Shenyang,Dongguan,Tangshan,Wuxi,Yangzhou,Changchun;inadditiontoBeijing,Shanghai,Guangzhou,Tianjin,Shenzhen,Xiamen,Chengdu,Chongqing,Dalian,Foshan,Zhongshan,Zhuhai,Hangzhou,Suzhou,Wuhan,Xi'an,Ningbo,Huizhou,Jiangmen,Kunshan,Chaozhou,Maoming,Qingyuan,Shantou,Shaoguan,Zhanjiang,Zhaoqing,YangjiangandYunfuhavebranches.

OnJuly24,2020,accordingtothewebsiteoftheChinaBankingandInsuranceRegulatoryCommission,theShenzhenBankingandInsuranceRegulatoryBureaurecentlyissuedareplyregardingtheclosureofHSBCBank(China)Co.,Ltd.ShenzhenLonggangBranch.The"Approval"statedthatitagreedtoclosetheShenzhenLonggangSub-branchofHSBCBank(China)Co.,Ltd.

ThemainbusinessofHSBC'sbranchesinChinacanbedividedintotwocategories:

ThefirstisIndustrialandCommercialBanking(CorporateBanking),includingprojectloansandrealestateloans,importandexportNegotiablebillsandbillcollection,securitiescustodyandB-sharebusiness,foreignexchangefundingarrangements,etc.;

ThesecondisRetailBanking,suchasdepositaccounts,remittances,traveler’schecks,creditcards,Merchantservices,etc.HSBCShanghaiBranchalsoprovidescustomerswithrealestatemortgageloansandotherservices.HSBC’shigh-qualityserviceshavebeenwidelyrecognized,andawardsinclude:

"FinancialAsia"China'sBestForeignBank

"Assets"China'sBestFundManagementBank

"GlobalFinance"BestPrivateBank

"TheBanker"AsiaandWesternEuropeBestBank

"EuropeanCurrency"named"China'sBestForeignBank"(4consecutiveyears)

OpenanaccountwithabankinHongKong:HongKongbanksgenerallyrequirealldirectorsofthecompanytogotothebanktoopenanaccountinperson.IftheaccountsignerordirectorofthecompanyisfromMainlandChina,YoumustholdaChinesepassportortravelpermittoHongKongandMacaubeforeyoucanopenanaccount.Companydocumentsandrelatedmaterialsshouldbebroughtalong.

MethodsfordirectorsnottogotoHongKongtoopenabankaccount:SincesomedirectorsarenotconvenienttoopenanaccountdirectlyataHongKongbank,theycansignanaccountopeningdocumentataHongKongbankbranchinChina(Commonlyknownassignaturewitness),afterthebranchhassentthefilestotheheadofficeinHongKong,wewillgototheheadofficetohandletheaccountopeningprocedures.Asthistypeofaccountopeningismorecomplicated,youcancheckwithusbeforeopeninganaccount.

OpenanaccountwithaforeignbankinChina:Ifyoudonothaveapassport,youcanopenanoffshoreaccountatabranchofaHongKongbankinChina.Accountsignatoriesandnon-householdsignatoriescanapplyaslongastheyhaveaMainlandChineseIDcard.Theaccountholdershouldbringrelevantdocumentsandmaterials.

Informationrequiredtoopenabankaccount:Director’sidentitydocument(identitycertificateorpassport)original/originalbusinessregistration/originalregistrationcertificate/originalarticlesofincorporation/articlesofincorporation/Theoriginalmeetingminutes/theaccountopeningfilesignedbytheaccountant/thecashdepositedinthenewaccount/theoriginalcreditcertificateissuedbythebank(thecreditcertificateshouldcontain:accountholder’sname,passportorIDnumber,accountopeningdate,depositamount,and“bankThewords"goodrecordsoftransactions").

Bankaccountopeningservicecontent:Recommendtheaccountopeningbank,arrangetoissueasignaturewitnessinstructionlettertotheaccountopeningbank,preparetheaccountopeningcertificatesignedbytheaccountantorlawyer,preparethebankaccountopeningapplicationform,andgotothebankAssistcustomersinopeningcompanyaccounts.

HSBCBankAccountmanagementfeeUsageandhandlingfee:

Account3monthsaverageIfthebalanceislessthanHKD50,000,thebankchargesanaccountmanagementfee:HKD100/month

Foronlinetransfer:110HKforeachtransaction;onlinetransfer:60HKforeachtransaction

throughHongKongOutgoingHSBCcounter:200HKbefore12noon;240HKafter12noon

RemittancethroughHSBCcounterinHongKong:Theminimumchargeis50HK,whichisdeterminedbythebank.

"Businessaccountscanbetransferredtomainlandcompaniesandpersonalaccounts:

Specific:IfHSBCaccountsaretransferredtomainlandpersonalaccounts,transferscanbemadetoUSdollarsandHongKongdollars;ifHSBCaccountsaretransferredtomainlandcompanyaccounts,transferstoUSdollarsorHongKongdollars.

AccountsopenedwithHSBCinHongKong,withthecard,youcanwithdrawRMBfromHSBCATMsintheMainland,andyoucanwithdraw20,000yuanperday.TheprocedureisaboutRMB200.

Developmenthistory

InJuly1865,theHongkongandShanghaiBankingCorporationLondonbranchopenedandanagencywasopenedinSanFranciscountilitbecameafull-servicebranchin1875.

In1866,HSBCopenedabranchinYokohama,Japan,andbecameaconsultanttotheJapanesegovernment.

In1888,HSBCThailandbranchwasestablished,becomingThailand'sfirstbankandissuingthefirstbatchofbanknotesforThailand.TheHongkongandShanghaiBankingCorporationinitiallyprovidedfinancialservicestoforeigncompanies(mainlyBritish-funded)inChina.Althoughithadestablishedanetworkofbranchesandcorrespondentbanksaroundtheworldintheearlydaysofitsestablishment,itsmainbusinesswasstillinChinaandotherpartsoftheAsia-Pacificregion.

TheoriginalnameofTheHongkongandShanghaiBankingCorporationwas:HongkongandShanghaiBankingCompanyLimited.In1866,theEnglishnamewaschangedtoTheHongkongandShanghaiBankingCorporation,andtheChinesenamewaschangedtoHongKongin1881.ShanghaiHSBCBank.Theword"HSBC"issaidtohavebeensuggestedbytheChinesecompradorGuYingchunaftermeasuringthegoodandbadstrokes,anditmeans"abundantremittances".By1900,HSBCalsoestablishedbranchesinotherpartsoftheFarEast,suchasIndiaandSingapore.

After1911,HSBCobtainedtherightofcollectionanddepositofChinesetariffsandsalttaxes.Bythebeginningofthe20thcentury,HSBChadbecomethelargestbankintheFarEast.ForeignexchangetradedbyHSBCoftenaccountsfor60%-70%ofthetradingvolumeintheShanghaiforeignexchangemarket.

HSBC'sbusinesswastemporarilyinterruptedduringtheFirstWorldWar.Withtheendofthewar,thecompany'sbusinessexpandedfurther.

InWorldWarII,HSBC’sbusinesswasonceagainaffectedandtemporarilymoveditsheadofficetoLondon.Afterthewar,thebusinessinHongKongresumedoperationsandtherighttooperatetheHongKongheadofficewasregained.In1949,astheChineseCommunistPartygainedpower,HSBC'sbranchesinmainlandChinaclosedoneafteranother.OnlythebranchinShanghaicontinuedtooperate.HSBCbecameoneofthefewforeignbanksthatdidnotinterruptbusinessinmainlandChina.Inviewofthegreatlyrestricteddevelopmentspace,HSBCbegantooperateasagroupinthe1950s.

TheHongkongandShanghaiBankingCorporation,undertheleadershipofMichaelTurner,beganoperatingasagroupin1953.First,theHongkongandShanghaiBankingCorporation,theHongkongandShanghaiBankingCorporationofCalifornia,wasestablishedin1955inCalifornia,theUnitedStates.In1959,HSBCacquiredAdvantageBankandtheBankofEnglandintheMiddleEast.ThiswasthefirstacquisitionoftheHSBCGroup.In1965,HSBCacquiredacontrollingstakeinHangSengBank.In1972,HSBCestablishedVictoryLimited(thepredecessorofHSBCInvestmentBankHoldingsLimited).In1980,HSBCtookastakeinMarineMidlandBankandbecameawholly-ownedsubsidiaryofHSBCin1987.In1981,HSBCacquiredacontrollingstakeinEquatorHoldingsLimited.Inthesameyear,HSBCfailedtoacquireRoyalBankofScotland,butitsinterestinacquiringlargeBritishbankshasnotdiminished.In1987,HSBCbecameashareholderofMidlandBankintheUnitedKingdom.Throughacooperationagreement,HSBCandMidlandBanktransferredbusinesstoeachother.

OnDecember17,1990,theHongkongandShanghaiBankingCorporationannouncedastructuralreorganization,whichincludedtheestablishmentofagroupholdingcompanynamedHSBCHoldingsCo.,Ltd.,andtheupgradingoftheHongkongandShanghaiBankingCorporationLondonbranchtoTheregisteredofficeofHSBCHoldings.ThesharesofHSBCBankweretransferredtoHSBCHoldings,andHSBCHoldingsreissuednewshares,whichexchanged4sharesofHSBCBanksharesfor1shareofHSBCHoldingsshares,andreducedtheoriginalissuedsharesto3/4forfuturelistingsoverseas.AfterHSBCHoldingssharesreplacedHSBCshares,theywerelistedontheHongKongandLondonstockexchanges.HSBCHoldingsisregisteredintheUK,butusesHongKongasthegeneralmanagementofficeofthegroup.TheHongkongandShanghaiBankingCorporationisawholly-ownedsubsidiaryofHSBCHoldings,anditsregistrationinHongKongremainsunchangedtofacilitatethedevelopmentofHongKong'sbusiness.

In1991,HSBCHoldings,theparentcompanyofHSBCBank,wasestablished.TheHongkongandShanghaiBankingCorporationsharesweretransferredtoHSBCHoldings.TheHongkongandShanghaiBankingCorporationwaswholly-ownedbyHSBCHoldings.In1994,theHongkongandShanghaiBankingCorporation'sbusinessinMalaysiawastransferredtothelocallyincorporatedHSBCBankMalaysia.

OnApril5,2020,HSBCannouncedthatthebank’sprimeinterestratewillremainunchangedatthecurrent5%level.Atthesametime,HSBC'sinterestrateforHongKongdollarsavingsdepositaccountsremainsunchanged.Amongthem,theannualinterestrateforaccountbalancesof5,000yuanormoreis0.001%;​​theinterestratebelow5,000yuanismaintainedatzero.

TheinformationdisclosedbytheHongKongStockExchangeonthe26thshowedthatPingAnincreaseditsholdingsof10.8millionsharesofHSBCHoldingsonSeptember23atanaveragepriceofHK$28.2859pershare,costingaboutHK$300million.Afterthecompletionoftheincrease,PingAn’sholdingsinHSBCreached1.655billion,anditsshareholdingratioroseto8%,replacingBlackRockasthelargestshareholderofHSBC.

Honorsreceived

Inthe2012GlobalFinancemagazine'slistoftheworld’s50safestbanks,HSBCranked23rd.

In2008,itranked20thintheFortuneGlobal500,withrevenueofUS$146.5billionandnetprofitofUS$19.133billion.

OnJuly19,2018,theFortuneGlobal500listwasreleased,andHSBCranked90th.

InJuly2019,theFortuneGlobal500listwasreleased,andHSBCranked99th.

OnJuly22,2019,HSBCBankHoldingswasranked30thamongthetop50mostprofitablecompaniesintheworld'stop500companiesin2019withaprofitof13,727(US$million).

InFebruary2020,the2020"Top500BankBrandValueRankingsoftheWorld"wasreleased,andHSBCranked11th.

OnFebruary20,2020,hewasselectedintotheForbesTop50BlockchainList(Phase2).

InJuly2020,itwonthe“BestGreenFinancePerformanceAward”inthe2019ChinaBankingIndustrySocialResponsibilityTop100Evaluation.

OnJuly28,2020,HSBCwasranked43rdintheForbes2020Global100BrandValue.

OnAugust10,2020,HSBCHoldings(HSBCHOLDINGS)ranked73rdontheFortuneGlobal500listin2020.

Controversy

Moneylaunderingcharges

OnNovember17,2014,theBelgianprosecutorstatedthatithadfiledfraudandmoneylaunderingagainstaSwisssubsidiaryofHSBCTheallegationsinvolvedhundredsofmillionsofeuros.AgenceFrance-PressesaidthattheBelgianprosecutorpointedoutinastatementthatasawholly-ownedsubsidiaryofHSBC,HSBCPrivateBank(Switzerland)wasaccusedofhelpinghundredsofcustomers,includingsomediamondtransactionsbasedintheportcityofAntwerp.ThebusinessdeceivedtheBelgiangovernment.

FramingHuawei

OnAugust22,2013,MengWanzhougaveaPPTspeechtoabankexecutiveofHSBCinHongKong,andthePPTwaspassedonbyHSBC.TheUnitedStateshasbecomethebasisforCanadiancourtsthatMengWanzhoudefraudedHSBC.

OnthemorningofJuly24,2020,Beijingtime,theHighCourtofBritishColumbia,Canada,disclosedtheevidenceforthenextstageoftheMengWanzhouextraditioncase.AsearlyasMay28,thecourtruledthattheessenceofMengWanzhou'scasewasacrimeoffraud.Publicevidenceshowsthattheso-calledMengWanzhoucaseisentirelyapoliticalcaseconcoctedbytheUnitedStates.HSBCparticipatedintheframe-up,maliciouslymadethegame,piecedtogethermaterials,fabricatedcriminalevidence,andplayedanextremelydisgracefulrole.MengWanzhouisinnocent!

OnJuly25,2020,HSBCmadeanofficialresponsetomediareportsthatHSBCparticipatedintheformationoftheMengWanzhoucase.HSBCstatedthatithasrecentlypaidattentiontothemisunderstandingoffactsinthelatestmediareportsontheprogressofthecase.HSBChasnomaliceagainstHuawei,norhasit"framed"Huawei.ThematerialsprovidedbytheHSBCGrouptotheU.S.DepartmentofJusticeareprovidedinresponsetoitsofficialrequest.InresponsetoinformationrequestsfromtheUSDepartmentofJustice,HSBConlyprovidedfactualinformation.HSBChasnot"fabricated"evidenceor"concealed"facts,norwillitdistortfactsorharmanycustomersforourownbenefit.

Prosecuted

OnJune23,2020,accordingtotheCanadianBloombergBusinessNews,HSBCwasaccusedoftaxdeductionsforfilmfinancingfromDisneyandothercompanies.Hundredsofinvestorsfiledsuits,involvingupto1.3billionpounds(approximatelyRMB11.4billion).

Scandal

OnSeptember20,2020,theBritishBroadcastingCorporation(BBC)quotedrelevantconfidentialdocumentsandreportedthatHSBChadknownthatitscustomershadengagedin"Ponzischemes"andexisted.Inthecaseoffraud,customersarestillallowedtotransfertensofmillionsofdollarsfromtheUnitedStates.

EpidemicPublicWelfare

OnJanuary29,2020,HSBCannouncedthatthegroup’smaininstitutionsinMainlandChinawilljointlydonateRMB7million,includingdonationsfromHSBCBank(China)Co.,Ltd.5millionyuanismainlyusedtosupporttheHubeiregion,whichisinurgentneedofmedicalsupplies.

Relatednews

Insupportofthe“HongKongNationalSecurityAct”,HSBCBankandStandardCharteredBankhavesuccessivelyexpressedtheirviews

OnJune4,2020,HSBCBankannouncedonitsWeChatEnterpriseAphotoofWangDongsheng,vicechairmanandchiefexecutiveofficerofthebank,signedontheofficialaccounttoproveHSBC’ssupportfortheHongKongNationalSecurityAct.TheaccompanyingtextstatedthatasamajormemberoftheHongKongAssociationofBanks,HSBCreiteratedthatundertheprincipleof"onecountry,twosystems",itrespectsandsupportsalllawsthatstabilizeHongKong'ssocialorderandrevitalizeeconomicprosperity.HSBCalsoalwaysbelievesthatastableenvironmentisthekeytothelong-termeconomicrecoveryofHongKongasaninternationalfinancialcenter.

HSBCestablishedafinancialtechnologycompanyintheShanghaiFreeTradeZone.

HSBCsaidthatthebank’sinsurancedepartmenthassetupafinancialtechnologycompanyinShanghai’sfreetradezone.Thisfinancialtechnologycompanyisexpectedtostartoperationsbytheendofthisyear.Thenewcompanywillinitiallyprovideassistanceforthebank'smobilewealthplanningbusinessinChina,andthengraduallyprovidesupportforotherfunctionsandinstitutions.

InvestUS$6billioninAsiainthenextfiveyears

Astheglobaleconomiccenterofgravitycontinuestoshifteastward,andinterestrateshavebeenhoveringatlowlevelsforalongtime,HSBCannouncedthatitwillincreaseinvestmentintheAsianmarket.HSBCcurrentlyoperatesin19marketsinAsia,covering98%ofAsia’sGDP.Ithasbeenrootedinmultiplemarketsfor140-150yearsandhasuniqueadvantages.“Inthenextfiveyears,HSBCwillinvestUS$6billioninAsia,mainlywithIntermsofwealthandinternationalwholesalebankingbusiness,ourgoalistoachievedouble-digitgrowthinpre-taxprofit."

OnMarch24,2020,accordingtoanannouncementbytheChinaBankingandInsuranceRegulatoryCommission,theChinaBankingandInsuranceRegulatoryCommissionTherelevantprovisionsoftheRegulationsofthePeople’sRepublicofChinaontheAdministrationofForeignBanksandtheImplementationMeasuresoftheChinaBankingandInsuranceRegulatoryCommissionfortheImplementationofAdministrativeLicensingMattersforForeignBanksapprovedWangYunfeng’squalificationsasthevicechairmanofHSBCBank(China)Co.,Ltd.

HSBCJinkeofficiallyopenedinLingangNewArea

HSBCFinancialTechnologyServices(Shanghai)Co.,Ltd.heldanopeningceremonyinShanghaiLingangNewArea,andsimultaneouslylaunchedacorporateonestop-Styleemployeewelfaresolutions.

Intheearlystage,HSBCJinkewillprovidetechnologicalinnovationanddigitalempowermentfortheHSBCGroup’snewmobile“HSBCPrivateWealthPlan”,andwillgraduallyproviderelevantsupporttomorelicensedfinancialinstitutionsinsideandoutsidethegroup.Thefocusofthefirstphaseincludescontinuousresearchanddevelopmentofvarioustoolsforcustomizedprivatewealthplanning,researchanddevelopmentofemployeebenefitsandhealthmanagementplatformsforenterprisestouse,assistusersincompletingdataintegrationunderuserauthorization,andresearchanddevelopmentinthegeneraldirectionofdatasecurityandprivacyprotectionNewdataserviceproducts,etc.