The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

HSBC’s long, long wait for JV approval finally comes good

HSBC’s Sino-foreign joint venture has been approved at last, almost two years after the project was announced. It is the first such venture to have foreign control but what exactly has HSBC won?

Approval for HSBC to launch its groundbreaking joint venture in China – the first to have a foreign-held majority – has been a long time coming.

HSBC first announced the JV, with local partner Shenzhen Qianhai Financial Holdings, in November 2015 — so long ago that its partner has since changed its name, dropping the ‘Shenzhen’, and the announcement appears to have vanished from HSBC’s site. The only remaining trace is Stuart Gulliver’s comment during the 2015 results two Februaries ago that “subject to approvals, the joint venture will be operational during the second half of this year”. When it finally opens at the end of 2017, it will therefore have taken a year longer than expected.

Still, it got there, and just in time for the 20th anniversary of the Handover.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to Euromoney.com and Asiamoney.com analysis and receive expertly-curated updates direct to your inbox.

 

Already a user?

Login now

 

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree