HSBC shrugs off China tension, vows more investments
London-based bank targets more wealth and retail clients in China amid political concerns over Hong Kong law
Hong Kong — HSBC Holdings pledged to boost investments in China to capture more wealth and retail clients even as political tension escalates after Beijing launched sweeping new security legislation to crack down on Hong Kong.
The bank, which has come under fire over its support for the legislation, on Friday announced it was starting a new service to provide customers in mainland China with digital wealth and insurance planning services. It will initially cover new customers in Guangzhou and Shanghai, according to a statement. The bank is also establishing a fintech company to support its business...