HSBC has appointed Peter Wong as chairman of its fully owned subsidiary HSBC Bank China. He succeeds Vincent Cheng, who retired from this position at the end of May. HSBC has won regulatory approval for the appointment and it is effective immediately.
“China is the growth engine of the global economy and a key focus of our emerging markets strategy,” said Wong in a statement.
Of course, recent data suggests that even China might struggle with growth at the same clip it has recorded so far, as the global economy seems to be slowing on the back of woes from all corners of the world. On...
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