HSBC Bank (China) Co is extending its branch network in central China, the Pearl River Delta and the Yangtze River Delta areas to support its business expansion.

HSBC China has obtained regulatory approval from the China Banking Regulatory Commission to set up a branch in Changsha, Hunan Province. In addition, HSBC China has applied to establish a branch in Ningbo in the Yangtze River Delta area while its Dongguan branch in the Pearl River Delta area will open in the fourth quarter this year.

Its affiliate Hang Seng Bank also won approval to set up a branch in Ningbo. Overseas, it could be thought the HSBC is pulling in its horns. And, indeed, it has been under some criticism from the international financial press. In China, the reverse is the case.
Source: Shanghai Daily News