HSBC opens 28th branch in Chinese mainland

HSBC China opened its 28th branch in the Chinese mainland in Nanning, capital of south China's Guangxi Zhuang Autonomous Region, on Wednesday.

Huang Bijuan, president and CEO of HSBC China, said the bank can use its advantage in cross-border RMB business to help Nanning pick up more opportunities regionally.

Ran Hui, president of the Nanning branch, said the financial service provided by the establishment is expected to help grow the overseas market for local enterprises and attract more foreign investment for Guangxi.

The Association of Southeast Asian Nations (ASEAN) is Guangxi's largest trade partner. The trade volume between Guangxi and ASEAN was 12.05 billion U.S. dollars in 2012, a growth of 26 percent from the previous year.

HSBC China is a foreign bank, solely owned by The Hongkong and Shanghai Banking Corporation Limited. With its headquarters based in Shanghai, the bank has more than 140 outlets in the Chinese mainland.