Sunday, April 1, 2007

UPDATE 1-HSBC to nearly double China outlets this year

(Reuters) - SHANGHAI, April 2 - Europe's top bank HSBC Holdings Plc. said on Monday it planned to nearly double the number of outlets in China this year as it develops its yuan retail banking business after its local incorporation.

London-based HSBC intends to open about 30 new outlets in the country this year, China Chief Executive Richard Yorke told reporters after he announced the launch of HSBC Bank Co. Ltd, its wholly owned locally incorporated unit of HSBC.


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