Global Markets in Mainland China

Foreign Exchange products

Mainland China's Foreign Exchange (FX) market is an emerging market experiencing tremendous growth. HSBC in mainland China provides FX services through its network of 19 branches, one of the largest amongst foreign banks. We bring depth of experience, the broadest range of banking services, and the largest operations of any foreign banks to bear in helping our clients to exchange currency for their business needs and to manage their risk in this diversified and evolving market.

Spot: HSBC was granted approval to provide a full range of Spot FX exchange services to our customers. In January 2006, HSBC became one of the first market-makers in mainland China's interbank spot market.

HSBC is currently allowed to provide RMB services in all of the 25 RMB licensed cities and key provinces surrounding Shanghai and Shenzhen.

Forwards: In August 2005, HSBC was one of the first foreign banks granted approval to conduct Renminbi Forward business on the inter-bank market. Subsequently, in September 2005, HSBC was given further approval from the State Administration of Foreign Exchange (SAFE) to provide Renminbi Forward services to corporate customers. HSBC is now able to provide Renminbi and foreign currency Forwards to all eligible customers.

Swaps: On 8 June 2006, HSBC was granted approval to provide CNY FX Swaps to customers, subject to relevant regulatory requirements. HSBC is also able to provide cross-currency interest rate swaps to customers, also subject to regulatory requirements.

For more information on HSBC in mainland China's foreign exchange product offering and offshore products, please contact us.