HSBC spends 1bn to maintain clout in China

Ensuring HSBC will remain a key player in mainland China is going to cost the firm more than one billion pounds.

Ensuring HSBC will remain a key player in mainland China is going to cost the firm more than one billion pounds.

The UK's biggest bank is spending HK$13,264m on a share placing by the Chinese lender, Bank of Communications, or BoCom for short.

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