The Goldilocks deal
HSBC's acquisition of a 19.9% stake in China's Bank of Communications is paving the way for the giant foreign bank to unlock the vast potential of the mainland's consumer finance market. HSBC Asia-Pacific chairman David Eldon talks to Joanne Gray about the deal's problematic genesis and its enormous prospects.
DAVID ELDON EXPLAINS HSBC's strategy in China in disarmingly simple
terms. “We want to be in everything in China at the moment,” he
says. “As the market opens up, we want to be there.”
HSBC Asia-Pacific's retiring chairman reckons the world's
third-largest banking group by market value is close to
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