Business
HSBC between a rock and a hard place – The Australian Financial Review
Businesses that have become political shuttlecocks are not worthwhile investments. Unpredictable policy shifts set share prices rather than strategy or economics.
HSBC has invested heavily in the mainland. The lender wants to hire up to 3000 wealth management employees for its mainland China business over the next four years. More than half of the hires would be in the Greater Bay Area, where it expects its banking revenue to rise sharply by 2025.
Its China-based IT centres have become a crucial part of group operations.
The strategy has been paying off. The mainland China business has continued growing through the pandemic. Even as group net profits fe…
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