HSBC Sets Up Its 3rd China Village Bank In Fujian - Xinhua
Monday October 20th, 2008 / 5h16
BEIJING -(Dow Jones)- HSBC Holdings PLC (HBC) has set up its third village bank in China in Yongan County, in the southern province of Fujian, the official Xinhua News Agency reported Monday. The bank has capital of CNY40 million, the report said. The opening of the Yongan outlet makes HSBC the first foreign bank to have a village bank in south China's rural area, the report said. HSBC also has received approval from the China Banking Regulatory Commission's Beijing branch to set up a village bank in Miyun County, in the outskirts of the capital city, the report said. The bank already has two village banks in China, located in Suizhou in the central Hubei province, and Dazu in the southwestern Chongqing municipality. -Victoria Ruan contributed to this story, Dow Jones Newswires; 8610 6588-5848; victoria.ruan@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=KfXVaU4ZPDnNUBv9zalcUQ%3D%3D. You can use this link on the day this article is published and the following day.
