IN BRIEF (Page 14)

HSBC branch in Jinan

HSBC Bank China opened its Jinan branch yesterday, making it the first foreign bank to have operations in the capital city of eastern China's Shandong province. With the opening of the Jinan branch, HSBC's mainland network now covers 20 cities, the widest geographical footprint among foreign banks. It has also got approval to set up a branch in Taiyuan, the capital of Shanxi province.

Sandy Flockhart, CEO of HSBC Asia-Pacific, said: "Network expansion is pivotal to our China strategy. The Bohai Rim region, which includes Jinan, offers great potential and is one of our key focuses for business development."