HSBC has become the first foreign bank to offer custodian services for Chinese mainland commercial banks eligible to provide overseas wealth...

HSBC has become the first foreign bank to offer custodian services for Chinese mainland commercial banks eligible to provide overseas wealth management services under the Qualified Domestic Institutional Investor programme. HSBC can now provide domestic and overseas custodian accounts as well as foreign exchange, cash clearing, securities and cash settlement services to commercial banks after receiving approval from the China Banking Regulatory Commission.