HSBC opens 25th branch on Chinese mainland

HSBC Bank (China) Co. Ltd. has opened a new branch in the eastern Chinese city of Wuxi, hoping that its 25th opening on the Chinese mainland will further expand its network. The new branch will mainly offer financial services and solutions to domestic-funded and foreign-funded businesses in Wuxi, an economic boom town in affluent Jiangsu province, said Qiao Jun, president of the Wuxi branch. It will offer banking services to local residents and overseas clients, Qiao said. The Wuxi branch officially started operating on Tuesday, and it will employ about 20 staff member in its initial period. HSBC China, which is headquartered in Shanghai, boasts the largest financial network among overseas-funded banks on the Chinese mainland. It operates 25 branches and 91 sub-branches on the mainland, covering 31 major cities.