HSBC Asia-Pacific Chairman Visit China Zhongwang s Headquarters(33879)

HSBC Asia-Pacific Chairman Visit China Zhongwang s Headquarters

An HSBC delegation led by its Asia-Pacific Chairman Mr. Vincent Cheng visited China Zhongwang s production base in Liaoyang city, Liaoning Province on 12 November 2008.

Mr Cheng and his delegation were warmly welcomed by Mr Liu Zhongtian, chairman and president of China Zhongwang. Mr. Lu Changqing and Mr. Chen Yan, both executive director and vice president of China Zhongwang, attended the meeting,

The delegation was then invited to a welcome party hosted by Mr Tang Zhiguo, mayor of Liaoyang city. Mr Tang gave an overview of the economic development of Liaoyang and the recent strong growth of China Zhongwang. The mayor commended HSBC for its increased investments in mainland projects and the calm posture it took during the financial storm.

Mr Cheng briefed the participants about HSBC s history and its current operations. He said that China was a major market for HSBC. To develop this market, HSBC adopted a two-way strategy: strengthen HSBC s cooperation with strategic partners while growing its own businesses. As China s financial market became fully open, HSBC hoped to see all-round growth of its China business. He noted that this visit marked HSBC s efforts to forge a strategic partnership with China Zhongwang and to achieve win-win cooperation between the two sides. It was also aimed at laying a solid foundation for further expansion of HSBC s China businesses and greater integration of China Zhongwang with the rest of the world. Mr. Liu, chairman of China Zhongwang, expressed his hope that the two sides would deepen this bank-enterprise cooperation, make full use of the existing strengths and resources each side possessed and achieve mutually-beneficial cooperation.

Mr Cheng and his delegation later paid a site visit, accompanied by chairman Liu and other senior executives of China Zhongwang, to the company s production base including the company showroom, the aluminum processing and electrophoretic coating facilities, the smelting and casting plant and the research and development centre.

HSBC Asia-Pacific Chairman Visit China Zhongwang s Headquarters

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