HSBC focuses on China after profit fall

The Telegraph | Feb 23, 2021 at 8:50 AM
  • HSBC has unveiled plans to invest an extra $6bn (£4.3bn) in Asian markets such as China and Hong Kong over the next five years, defying critics who said it has become too cosy with Beijing after backing a crackdown in Hong Kong.
  • The London-based bank plans to focus on wealth management in Asia, where it already makes most of its money.
  • The bank is expected to focus its expansion in China on the Greater Bay Area, which covers 21,800 square miles and 11 cities including gambling mecca Macau, the most densely populated city in the world.