HSBC to move to Hong Kong

Global Business

Europe’s largest bank may leave Europe by the end of the year and relocate back to Hong Kong. The HSBC CEO said he will announce their decision in the upcoming months. CCTV’s Cathy Yang filed this report.

HSBC to move to Hong Kong

HSBC to move to Hong Kong

Europe's largest bank may leave Europe by the end of the year and relocate back to Hong Kong. The HSBC CEO said he will announce their decision in the upcoming months. CCTV's Cathy Yang filed this report.

Highlights:

  • The Hong Kong Monetary Authority welcomed the potential move, in what experts say may set the precedent for rivals to do the same.
  • HSBC’s $2.6 trillion balance sheet is almost 10 times Hong Kong’s economic output.
  • HSBC rival Standard Chartered is also thinking of making a similar move.