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HSBC sees strong growth in China

By Yang Zhen (chinadaily.com.cn)
Updated: 2009-03-11 13:55

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HSBC China's profit before taxes rose 85.2 percent to 2.2 billion yuan ($321 million), and its operating income increased 44.5 percent to 5.4 billion yuan, the lender said in a statement on Wednesday.

The London-based lender also extended 14 percent more loans in the yuan in 2008 compared to the year before. The number of HSBC's outlets grew to 79 at the end of last year, after the lender added 18 new outlets in 2008.

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The full text is available in the March Issue of China Banking. Please visit publications for more subscription details.