HONG KONG - HSBC Holdings PLC plans to add more than a 1,000 jobs this year at its technology development centers in China, as the Asia-focused lender seeks to bolster its presence in the world’s second largest economy.
In recent years the London-based bank has spent $3 billion annually on its group technology operations which employ 40,000 people worldwide, and West said annual investments of $3-$3.5 billion are planned over the next few years. HSBC’s expansion plan in China, a key market for the bank, comes amid growing use of technology in the financial sector - from payments to transactions.
“We see mainland China as a tremendous source of talent, not just for the local market but our technology operations globally. We are hiring very aggressively here,” he added.About 30% of the work done at the Guangzhou center, the largest HSBC tech facility in China with more than 5,000 employees, is for the mainland market and that share is expected to grow over the next couple of years.
HSBC has in recent years lifted investment in China, including the prosperous southern Pearl River Delta region. Mainland China and Hong Kong together accounted for nearly 40% of the bank’s revenue in 2018.
Engineering better tax shelters and money laundering machines no doubt.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China cancels U.S. pork import order as U.S.-China trade war drags onThe same week U.S. President Donald Trump announced sweeping increases on tariff... I wonder if any Trump supporters are hog farmers? Whoo Hoo....MORE BACON FOR US!! I’ll buy some. ✔️. Bacon for all
Source: Reuters - 🏆 2. / 97 Read more »
China has cut its holdings of US debt to the lowest level in two years amid trade tensionsThe move represents a continued pattern of declines that comes as the two sides have been unable to hammer out a long-term trade agreement. Why don't we own half of china instead of vice versa? And yields have gone up a whopping....wait, they have gone down 🙄 China has reduced its US Treasury holdings by selling them and REINVESTING it through SHELL COMPANIES in REAL ESTATE in the US. Basically their money is still circulating in the US economy, that is, it hasn't left the US yet. So we are OK.
Source: CNBC - 🏆 12. / 72 Read more »
Ford to build more Lincolns for Chinese market locally: CFOFord Motor Co plans to start production of new luxury Lincoln models in China fo...
Source: Reuters - 🏆 2. / 97 Read more »
U.S. Treasury secretary plans China visit as trade war clouds world economyU.S. Treasury Secretary Steven Mnuchin said on Wednesday he will likely travel t... Sry world.. this is needed How did this guy become successful?
Source: Reuters - 🏆 2. / 97 Read more »
China plans to cut jet fuel prices to aid airlines, consumersChina is planning to lower wholesale aviation fuel prices as early as July, part... I wonder if those airlines pass along the savings China vs Netherlands ... What a difference with Europe and our so-called ecologists who focuson aviation taxes and refrain from having decision relevant to the greatest responsible sector for CO2 emission.
Source: Reuters - 🏆 2. / 97 Read more »
China Says It Doesn’t Know About U.S. Plans for Beijing Trade TalksChina’s Commerce Ministry denied knowing about U.S. plans to resume trade talks, deflecting remarks by Treasury Secretary Steven Mnuchin that American officials are likely to travel to Beijing soon for negotiations. Yet play well your cards China knows well the US christo-capitalist system's treatment of the slaves
Source: WSJ - 🏆 98. / 63 Read more »
To Avoid Tariffs, This Japanese Copier Maker Plans Less ‘Made in China’Ricoh said it plans to shift some production of copiers intended for American customers out of China, an example of what could become a wider push by manufacturers as the U.S.-China trade dispute continues. In order to ensure that the so-called world hegemony, Trump will pull the world into the water? They need our market. They will have to deal fairly with us, finally.
Source: WSJ - 🏆 98. / 63 Read more »
Markets turn volatile US-China trade tensions — Six experts on how to invest right nowMarkets are facing volatility as the U.S. and China attempt to hammer out a trade deal. The U.S. increased tariffs on China and the country retaliated, sending markets lower on Monday. Stocks bounced back on Tuesday. Six experts break down what investors should watch next. Buy bitcoin I need that trade deal to come to fruition
Source: CNBC - 🏆 12. / 72 Read more »
China formally arrests two Canadians on state secrets chargesChinese authorities have formally arrested on state secrets charges two Canadian... It's rumored the Canadians were very nice to the Police when they were arrested. Canada can't save Huawei. Time to step up Justin
Source: Reuters - 🏆 2. / 97 Read more »
US-China trade uncertainty is 'the enemy of growth', OECD warns as it slashes forecastsTrade tensions between the U.S. and China stalled a global recovery and are continuing to endanger investment and growth, the secretary general of the OECD warned Monday.
Source: CNBC - 🏆 12. / 72 Read more »
US-China trade war spurs unease on Capitol HillPres. Trump gets rare support from some Democrats on US-China trade war: 'His instinct isn't wrong,' said Democratic Sen. Tim Kaine of Virginia. 'But what he's doing to solve the problem is actually only most painful for Americans, not the Chinese.' Boss To high of a tarrif all at once...will hurt farmers and many manufacturers Trump doesn't know what he's doing..but then again, he's lost over 1 BILLION in his life. Art Of The Fail Um... That quote isn’t “support”.
Source: ABC - 🏆 471. / 51 Read more »