HSBC unveils new China headquarters

China network reaches 100 outlets with new Premier centre in Shanghai.

HSBC on Wednesday formally opened its new China headquarters in the HSBC Building, part of the landmark Shanghai IFC commercial complex in the heart of Shanghai’s financial district. The bank also announced the opening of its 100th outlet in mainland China, the largest network of any international bank in China, with a new HSBC Premier Centre at Ciro’s Plaza in Shanghai, according to an HSBC report.

HSBC Bank (China) Company Limited will occupy 22 floors of the 53-storey HSBC Building, with a gross floor area of over 58,500 square metres and capacity for more than 4,000 people.

The building has been pre-approved for Leadership in Energy and Environmental Design (LEED) Gold Certification, an international standard for environmentally-friendly construction, reflecting the importance that HSBC places on corporate sustainability.

Speaking at the opening ceremony in Shanghai, Michael Geoghegan, HSBC’s Group Chief Executive and Chairman of Hongkong and Shanghai Banking Corporation Limited, said: “I am delighted to be here today in one of our spiritual homes to open HSBC’s new China head office in Shanghai. This investment marks an important milestone in our 145-year continuous presence in China since our founding in 1865.

This new building is designed to support the next phase of our expansion in China, and as the world’s economic gravity continues to move eastwards, it also reflects Shanghai’s growing importance as an international financial centre.”

Helen Wong, HSBC China’s newly appointed Chief Executive designate, said: “As we continue to expand our network in China, our ability to serve customers and join them up to HSBC’s unrivalled international network and service expertise is significantly enhanced. We will continue to expand our branch network and look forward to the celebration of the next 100th outlet. ” Helen Wong will officially take office upon obtaining regulatory approval.

This year, China’s GDP is expected to grow five times faster than that of the developed world, according to HSBC Economics’ forecasts, and some projections suggest that China could become the world’s largest economy by the end of this decade. In addition to becoming the world’s largest exporter, China is seeing rapid growth in the number of middle and mass affluent consumers. The number of millionaires in mainland China is forecast to double to 800,000 within four years.