HSBC Holdings has announced the appointment of Helen Wong as China president and chief executive officer.

Wong has over 25 years of experience in the financial services industry and is currently the deputy CEO for China. She officially takes over the role of Richard Yorke upon obtaining regulatory approval.

China is the Asian country of choice for international bank expansions and strategies after emerging as the largest potential market for untapped investments and wealth, followed by India and Singapore. In addition, it has also been gradually opening itself up to the world market and implementing regulatory changes that allow for greater participation of offshore firms.

"China is a key focus of our emerging markets strategy and the growth engine of the global economy," Peter Wong, CEO for the Asia Pacific region, said in a statement.

HSBC has been operating in the country since 1985. HSBC China now has 20 branches and 67 sub-branches in major cities across the nation, offering personal, private banking, commercial and corporate services.