HONG KONG Europe's biggest lender HSBC (HSBA.L) is setting up a majority-owned securities jv inside China, using good thing about Chinese guidelines that will favor Hong Kong-established banks over foreign peers inside the world's 2nd greatest economy. HSBC's aim is often to establish the foothold in issuing bonds in China, which the bank sees as a possible area associated with strong future growth. HSBC mentioned about Monday it might very own as significantly as 51 % in the proposed partnership together with China's unlisted Shenzhen Qianhai Economic Holdings Co Ltd. "It opens up a significant significant opportunity, mostly inside the location of bonds," HSBC Chief Executive Stuart Gulliver advised reporters on a conference call. "It enables us to accomplish debt capital markets throughout China within RMB (renminbi) for corporates." HSBC has recently said hello plans to shift assets directly into China's Pearl River Delta region within the southern province involving Guangdong, a new move seen...
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