China's best international bank 2022: HSBC
HSBC has operated in mainland China since 1865 and is a force to be reckoned with: it is the largest foreign bank in the country, operating in 50 cities, with 150 outlets and over 7,000 employees.
It also serves as an important conduit between China and the rest of the world, making it an indispensable partner for the many global firms and investors seeking access to the mainland and to those Chinese corporations that want to expand globally. It is Asiamoney’s pick for best international bank in China in 2022.
A few things differentiate HSBC, whose China chief executive is Mark Wang, from its other foreign banking peers with businesses in China. These include its wide reach – it offers commercial banking, investment banking, wealth management and retail banking – and its ability to identify key growth sectors, as well as its contributions to the opening up of China’s financial markets.
Take the Greater Bay Area, an economic area connecting nine cities in the mainland with Hong Kong and Macau. HSBC set up a GBA office in 2021 and is deeply involved in the GBA Wealth Management Connect programme.