HSBC sees CIC as portal to Chinese mainland 2008.Jul.26. Posted in China
HSBC Holdings, a UK-based world banking giant, is in private talks with China’s sovereign wealth fund for a possible strategic stock investment, the Forbes website reported Tuesday.
Group chairman Stephen Green is reported to have met with senior officials from China Investment Corp (CIC) several times in recent months, the website said. Shares of HSBC jumped 4.1 percent to 124.90 HK Dollars on the news on Monday.
“We don not need to raise fund from any market placement but we welcome investors from everywhere,” Vincent Cheng, chairman of Hong Kong and Shanghai Corporation Limited — a subsidiary of HSBC Holdings, told reporters at a public function in Hong Kong on Monday.
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