Posted inChina

HSBC Qianhai Securities sets up Communist Party committee – report

HSBC has become the first foreign lender in China to set up a Chinese Communist Party committee in an in-country investment banking venture, the Financial Times reported Thursday. HSBC Qianhai Securities installed a CCP committee after HSBC’s stake in the joint venture increased from 51 to 90 percent, the FT said, citing two people familiar with the decision. […]