Hsbc Holdings Concerned About The Asia-pacific Region Business Development
Fine-tuning strategy
Fine-tuning strategyHSBC Holdings in early August issued an interim karma, this year's first half pre-tax profit of HSBC Asia-Pacific region reached 2.985 billion yuan, up by substantial growth of 47.6%, of which Hong Kong businesses on the profit contribution of the whole group was 25.9%, slightly lower in addition to other parts of Asia outside Hong Kong, the contribution of the business, which last year compared to last year at the end of a reversal. Peter Wong said this, HSBC is the regional strategy, with some adjustments, the Asia-Pacific region in terms of profit no longer wish to focus on Hong Kong, but for "make the pie bigger."
"We can not rely solely on the profitability of Hong Kong support the business development throughout the Asia Pacific region, but also on other countries and regions of the business expansion." Said Peter Wong, HSBC Zhubu forward this year in China, Malaysia, Indonesia, Singapore, India and Australia and other areas of business development and now we can see some adjustment effect, but the ideal goal is still lagging behind, the next two years depends on the progress of the specific.
Peter Wong said the group goal is to profit from developing countries 60%, 40% from developed countries, the Asia-Pacific region, the hope that the Hong Kong business profit contribution rate remained at 35% and 40%. In particular, he mentioned that the profitability of HSBC in India, our aim is that from 2013 to 2014 to reach 10 billion U.S. dollars, which requires the business model, talent pool, IT equipment, and so ready.
In fact, since the financial crisis, HSBC's strategic focus on the continuing eastward. In January of this year, HSBC will be moved to London 17 years ago, the symbol of the Group Chief Executive Officer of Office command center to move back to Hong Kong early in July, announced through its wholly-owned subsidiary of The Hongkong and Shanghai Banking Corporation Royal Bank of Scotland acquired the assets of India, as its two years in India's third takeover.
Help cross-border trade RMB business
As the first pilot involved in cross-border trade of foreign banks RMB is one of HSBC in September 2009 in Shanghai, Shenzhen, Guangzhou and Dongguan, four cross-border trade to start RMB business. According to statistics, participation in the new pilot's 20 provinces, autonomous regions and municipalities in China, HSBC has branches in 17 cities and has been in Qingdao, Beijing, Chengdu, Xiamen and Wuhan and other cities to complete the first document business.
Not only that, the overseas parent company, HSBC China - Hong Kong Shanghai Banking Corporation Bank of Communications, through the cooperation with strategic partners active in related businesses. Apart from Hong Kong, HSBC has been in Brunei, Indonesia, Malaysia, Singapore, Thailand, the Philippines and Vietnam, all operations were conducted respectively in seven ASEAN countries, the yuan trade settlement.
Peter Wong said this, HSBC in 87 countries and territories worldwide with over 8000 branches, can do a good job with the national policy-related businesses, currently between HSBC and Bank of Communications is exploring the use of partnerships to do more of RMB trading settlement good. He believed that the yuan needs of international currencies around the world on the establishment of full confidence, a different development in Hong Kong Renminbi products first, and then extended to other areas, while HSBC will play an important role here.
Stephen Green does not change the outgoing group strategy
Notice issued by HSBC on the 7th, the Group Chairman Stephen Green will be leaving before the end of this year, in January 2011 as UK Trade and Investment Minister. This, said Peter Wong, HSBC Group's overall operations and strategic positioning to grasp the main by the Chief Executive Officer, the President will not replace the impact on the Group strategy, the future of HSBC's business expansion strategy in China does not change.
Peter Wong in an interview, also reiterated that HSBC has landed Shanghai A-share market fully prepared for the specific process will depend on the regulatory arrangements. Some analysts believe that the HSBC siting board of directors held in Shanghai for the first time in six years, from one side of the highlighted HSBC plans to develop the China market, and listed in Shanghai determination.
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