HSBC’s position in mainland China is defined by its ability to execute across onshore markets while linking them effectively with global capital flows through 94 outlets in 45 cities.
In 2025, the bank was active in shaping access to China’s opening financial system, participating early in newly introduced interbank products, including bond repo and long-dated derivatives transactions, supporting overseas institutional entry into domestic markets.
In wholesale banking, HSBC was a leading participant in securitisation. As the top international bank in the onshore market, it executed 81 transactions from 21 originators across asset classes such as auto and consumer loans.
It continued to originate and distribute Panda bonds for global issuers, including first-time entrants to the market, completing landmark transactions for CIMB Bank Berhad, Bayer AG, Suzano and Volkswagen.
Its syndicated lending activity combined onshore and offshore structuring, supporting inbound investment alongside Chinese corporates expanding internationally, with a focus on multicurrency and sustainability-linked facilities. Notable transactions included a RMB3.05 billion ($449 million) acquisition facility for Haleon and a $300 million equivalent dual-currency term loan for GEM, alongside sustainability-linked facilities for Haier Leasing.
Transaction banking developments focused on execution efficiency. The expansion of digital payment solutions and connectivity platforms such as SpeedX, now rolled out across 20 branches and serving more than 400 corporates, reduced cross-border processing times by between 50% to 75%, while integration into domestic clearing systems enhanced the ability to manage RMB and foreign currency payments onshore.
These capabilities were further embedded through partnerships with local enterprise platforms, including integrations with Yonyou and Kingdee, linking banking services directly into corporate operating systems.
In wealth, HSBC prioritised cross-border connectivity, expanding propositions that link mainland China with Hong Kong and other global booking centres, alongside a broad international investment platform. It remains the largest Qualified Domestic Institutional Investor bank with a $6.94 billion quota and offers more than 800 investment products, alongside over 510 products under Wealth Management Connect
This was supported by continued development of mobile-enabled services for advisory and investment execution, extending digital access to high net-worth clients in mainland China.
