Banking giant HSBC has strengthened its presence in northeast China with the establishment of a new branch in Shenyang. The new office offers a full range of international banking services and represents the first branch that the bank has opened since its local incorporation in the country earlier in 2007.

Richard Yorke, president and CEO of HSBC Bank (China) Company, said: The opening of the Shenyang branch is an important step in our organic growth in the mainland market. Shenyang has a strong industrial base and is seeing rapid economic growth. With this new branch, we are able to provide the local market with international banking services in support of the country’s efforts to revitalize the northeastern China region.

The new branch offers a comprehensive range of corporate and commercial services in foreign currency. Services provided to domestic and international companies include business finance, deposits and loans, cash management, trade services and custody and clearing.

In addition to these services, the branch will also provide foreign currency services to retail customers through HSBC Premier, the bank’s global wealth management proposition, which features one-to-one personal relationship banking, 24-hour phone banking service and internet banking.

The Shenyang branch is currently preparing for the launch of RMB services and will roll out the services once regulatory approval has been received.