Financial market analysis reports

HSBC Expands China Presence with 300 New Hires and Digital Yuan Services After Citi Acquisition

Jun 11, 2024, 03:00 AM

HSBC has expanded its presence in China by adding over 300 employees following its acquisition of Citi's wealth management business. Additionally, HSBC China has become the first foreign bank to offer digital yuan (e-CNY) services to corporate clients. This move signifies HSBC's commitment to integrating advanced financial technologies and expanding its footprint in the Chinese market.