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Its all-time low is 58.61 points, reached retroactively on August 31, 1967, after the base value was established but before the publication of the index. The Hang Seng passed the 10,000 point milestone for the first time in its history on December 10, 1993, and, 13 years later, passed the 20,000 point milestone on December 28, 2006.
HSBC is one of the three commercial banks which are authorised to issue banknotes for Hong Kong - the other two being the Bank of China (Hong Kong) and Standard Chartered Bank (Hong Kong). [6] Of the total notes in circulation measured by value, HSBC is the most prolific issuer, its notes representing 67.7% of those in issue.
In 1991, the present parent legal entity, HSBC Holdings plc, was established in London and the historic Hong Kong–based bank from whose initials the group took its name became that entity's fully-owned subsidiary. [9] [10] [11] The next year (1992), HSBC took over Midland Bank and thus became one of the largest domestic banks in the United ...
Hang Seng Bank Limited (Chinese: 恒生銀行有限公司) is a Hong Kong–based banking and financial services company with headquarters in Central, Hong Kong. It is one of Hong Kong's leading public companies in terms of market capitalisation and is part of the HSBC Group, which holds a majority equity interest in the bank. [2]
SEHK: 3 The Hong Kong and China Gas Company Limited: SEHK: 4 The Wharf (Holdings) Limited: SEHK: 5 HSBC Holdings plc: SEHK: 6 Power Assets Holdings Limited: SEHK: 7 Hong Kong Finance Investment Holding Group Limited (formerly Hoifu Energy Group Limited) SEHK: 8 PCCW Limited: SEHK: 9 Nine Express Limited: SEHK: 10 Hang Lung Group: SEHK: 11 Hang ...
In the year 1901 73% of the loan portfolio of the IBC was advanced to foreign firms. [9] After the proclamation of the Republic of China, the bank changed its English name to the Commercial Bank of China in 1912. The name more accurately translated its Chinese name and removed any link to the Qing Dynasty.
In 2010, HSBC China's headquarters moved out of the HSBC Tower and moved into HSBC Building in Shanghai IFC. In July 2022, HSBC became the first foreign lender to open a Chinese Communist Party committee in its Chinese investment banking subsidiary. [1] The subsidiary, HSBC Qianhai Securities, is a 90% HSBC-owned joint venture. [2]
Vincent Cheng Hoi-Chuen GBS OBE JP (Chinese: 鄭海泉, 16 July 1948 – 28 August 2022) [4] was a Hong Kong banker who was an executive director of HSBC Holdings plc.He was also chairman of The Hongkong and Shanghai Banking Corporation Limited, the Asia-Pacific branch of HSBC, and founding member of the group, from 2005 to 2010.