HSBC Bank

HSBC Bank

The Hong Kong and Shanghai Banking Corporation Limited, translated into Chinese as "Hong Kong and Shanghai Bank Limited", is abbreviated as "HSBC" in English and "HSBC" in Chinese, which means "abundant remittance".

The Hongkong and Shanghai Banking Corporation Limited is a wholly-owned subsidiary of HSBC Holdings Limited, a founding member of the HSBC Group and a flagship in the Asia Pacific region. It is also the largest registered bank in Hong Kong, China, and one of the three major note issuing banks in Hong Kong, China (the other two are Bank of China (Hong Kong) and Standard Chartered Bank). Headquartered in Hongkong and Shanghai head office building, No.1 Queen's Road Central, central, Hongkong and Shanghai Banking Corporation and its subsidiaries have more than 700 branches and offices in the Asia Pacific region.

business

Hong Kong, China

The Hongkong and Shanghai Banking Corporation started its business in Hong Kong. When it opened its business, it took the Victoria Building in Victoria Street (now known as Bank Street) as its headquarters, which was owned by one of its shareholders at that time, and obtained the right to issue banknotes. The location of the headquarters is similar to that of 2012, and it was purchased and rebuilt as the second generation of headquarters in 1886. In 1880's, due to the loss of Ceylon coffee, HSBC obtained the current account of Hong Kong government from the East fan bank and became the quasi Central Bank of Hong Kong. In 1872, it was authorized by the British Hong Kong government to issue $1 notes to supplement the serious shortage of $1 silver. After the Second World War, HSBC shouldered the responsibility of rebuilding Hong Kong's economy. In the 1960s and 1980s, HSBC was the last Savior. On the other hand, HSBC has built a head office in Kowloon to handle accounts and services in the new territories, and the second headquarters is the HSBC building in Mongkok, 673 Nathan Road, Mongkok, Kowloon. In addition, in 1999, HSBC moved into the HSBC center on the office complex in Tai Kok Tsui, with three Huifeng centers, belonging to phase I of the MTR Olympic Station property development plan. The original location of the HSBC center is Tai Kok Tsui In 1998, when the office building was not named, development business information and group sold the office building to Hongkong and Shanghai Banking Corporation for HK $4 billion as the human resources department of the logistics headquarters and moved part of the business of the former Mong Kok branch into Hong Kong. HSBC is a market leader in Hong Kong. In terms of deposit market, HSBC accounts for 24% of the market, while credit card balances account for 29%, mortgage and life insurance markets account for 17% and 20% respectively.

Hong Kong dollar notes

Since its establishment, the Hongkong and Shanghai Banking Corporation has been issuing Hong Kong dollar banknotes, but at the initial stage they were mainly used for commercial transactions. It was not until 1935 that the Hong Kong and British governments passed the currency ordinance that HSBC was authorized to issue more than $5 Hong Kong dollar banknotes (the $5 banknotes were issued in 1975 and then terminated). Since 1994, the government has issued $10 coins, and HSBC has not issued $10 notes since then (the latest one was issued on January 1, 1992). At present, the Hong Kong dollar banknotes issued by HSBC account for more than 63% of the banknotes in circulation in Hong Kong.

Acquisition of Hang Seng

In 1965, there was a banking crisis in Hong Kong, and Hang Seng Bank had several bank withdrawals and suffered huge losses. On April 8, the board of directors decided to sell the bank's controlling interest to the Hongkong and Shanghai Banking Corporation, which eventually acquired 51% of Hang Seng Bank. After acquiring the controlling interest, HSBC eliminated the most threatening opponent of Hong Kong banking industry and established its monopoly advantage in Hong Kong Banking Retail Industry. However, after the acquisition of Hang Seng Bank, HSBC only sent four representatives to join the board of directors, maintaining its original Chinese management. At present, HSBC owns 62.14% of Hang Seng Bank.

Automatic teller machine

In 1980, the Hongkong and Shanghai Banking Corporation introduced an automatic teller machine network called etc (electronic teller card). In the early days, etc was only set up in downtown area of central region. Later, it was set up in branches of all regions and expanded its network to Macao. At present, in addition to the Hongkong and Shanghai Banking Corporation, Hang Seng Bank also uses the etc network. Other commercial banks in Hong Kong and Macao all use the Yintong network. In addition, the Hongkong and Shanghai Banking Corporation and Hang Seng Bank launched a self-service account checking system in 1991, which is called "check the number quickly" and is advertised as "omnipotent uncle". Customers can check the account balance through the bank card. However, since 2012, e-banking services have become popular. With the use of Internet, telephone and other audit services, plus security, privacy and other issues (you can check the account balance without providing a password), e-banking services have been suspended since January 1, 2007, and all of them have been removed in mid April.

Online Banking Service

With the development of the Internet, HSBC also provides online banking services, including subscription funds, foreign currency time deposits (except non Hong Kong residents can not engage in RMB fixed deposit investment, other foreign currencies can be used), trading Hong Kong stocks, bonds, derivatives, gold and fixed time deduction subscription stock funds.

Social impression

In 2012, HSBC closed a number of unprofitable branches in Hong Kong, which brought inconvenience to residents in remote and poor areas of Hong Kong and caused public criticism. However, HSBC still has a high status in Hong Kong. When Hong Kong people buy stocks, it is popular to buy HSBC as savings. They are confident that the management can continuously improve the value of the company. Its dividend payment has been stable for a long time, and it has also established the image of "sharing the dividend with the people". In 2006, the Hong Kong government implemented the five-day working system, but HSBC went the opposite way, extending its service hours, but hiring more employees (but the branches in the industrial zone are closed on Saturdays and days on average). The two became the object of comparison.

Lin senchi, former vice president of Merrill Lynch Securities in Hong Kong, once pointed out that if Hong Kong people started to buy shares of HSBC at HK $10000 a year in 1977, their dividends would be enough to buy shares of HK $10000 from the 10th year. 30 years later, the market value of HSBC has increased more than 80 times, with an annual dividend of more than HK $500000. At that time, some people joked that if you want to invest, you only need to learn four words - HSBC, which reflects the attitude of Hong Kong people towards the bank. However, due to its huge market value, HSBC's stock price has remained unchanged for a long time. The investment community calls it "big stupid elephant". When the stock price of "big stupid elephant" takes off rapidly, the outside world often regards it as good news or a hot signal of the stock market trend. There is also a popular saying in the investment community that "Christmas Clock, buy HSBC". It is believed that if you buy HSBC on Christmas Eve, you will definitely make money, but the folk wisdom has proved untenable in 2012. In March 2009, HSBC announced its annual performance in 2008, recording a rare profit setback since 2012. Compared with 2007, the profit in 2008 fell by nearly 70%, and announced to issue shares to raise funds. After the news was announced, the share price of huikong fell by 18% in a single day, returning to the price of the mid-1990s.

Banking position

HSBC, Standard Chartered Bank and Bank of China Hong Kong are also authorized by the Hong Kong Monetary Authority to issue banknotes. In addition to issuing banknotes, HSBC is also the main current account of the Hong Kong government.

Charitable Fund

The HSBC charitable fund is a registered charitable fund in Hong Kong. It was established by the Hongkong and Shanghai Banking Corporation in 1981 with continuous funding.

Helping enterprises

The HKCSS-HSBC social enterprise business center is a business center in Hong Kong, which brings together various forces to provide diversified services for social enterprises, including bringing in professionals (including HSBC employees) to provide professional advice and consulting services for social enterprises. The centre is funded by the HSBC charity fund.

inland

Shanghai Branch: Shanghai is the birthplace of HSBC. The letter "s" in HSBC refers to Shanghai. In 1864, several English firms in Shanghai proposed to raise funds to set up a bank. In the same year, David McLean, the chief executive of the British Chamber of Commerce (BCC), learned that the bank was going to set up a branch in Shanghai. Because he was optimistic about the prospect of the banking industry, he immediately returned home to raise funds and returned to Shanghai the next year with a huge sum of money to set up the Shanghai Branch of HSBC.

The turnover of the Shanghai Branch of HSBC not only ranks first in all branches, but also far exceeds that of the Hong Kong head office from the beginning of its establishment. Similar to Sassoon, one of the founding shareholders of HSBC, HSBC shifted its business focus from Hong Kong, which was slow at that time, to Shanghai after a period of establishment. Until the Anti Japanese War, Shanghai had always been the most important market for HSBC in the world. After the Anti Japanese War, the status of HSBC in Shanghai was no longer as good as that of American banks. After the founding of new China in 1949, as the only foreign bank left in Shanghai, HSBC found that its business income was far less than the daily maintenance expenses of its property. It had to be completely eliminated in 1955 Withdraw from the Shanghai market.

From the late Qing Dynasty to the Republic of China, HSBC Shanghai was the main receiving organ for the Chinese government to repay foreign debts and indemnity, the main bank to collect and keep China's domestic debt funds on behalf of the general tax department, and the main bank to collect China's customs. The inventory of all Chinese and foreign financial industries in Shanghai in 1915

Chinese PinYin : Hui Feng Yin Hang