"The Bank." This is often what expatriates refer to it when asked about the Hongkong and Shanghai Banking Corporation (HSBC). I became interested in HSBC as a result of a fluke during one of my visits to China in 2006. I was in Shanghai at the time and had been traveling on my own for several months and my money belt was getting a bit light. So I decided I needed to shake the money tree and I proceeded to withdraw money from an atm. I must have tried six or seven different banks, some state owned Chinese banks and some international banks. All of these banks denied my card and I was starting to get a bit worried. I made my way to the Bund and as I was admiring the British colonial buildings I found the main building of HSBC Shanghai branch. I waited my turn and attempted to withdraw money, and to my satisfaction, that atm started shooting out crisp, beautiful, 100 RMB bills. After that, I thought HSBC was a beacon of all things modern and civilized!
As a result of that experience I began to do research about the bank and was interested to learn that the bank was established by a Scotsman in 1865, and as a result is one of the oldest banks in modern world. It was developed with Chinese-European trade in mind as British colonized Hong Kong needed a way to finance trade. The Shanghai building I referred to was built in the early part of the 20th century and is very striking. The inside is very ornate and there is even a beautiful dome mosaic. It is surely worth a look if you find yourself in Shanghai.
Presently, HSBC is a major force in international, corporate and commercial banking, and also offers personal financial services for residents of China and expatriates alike. It is one of the largest investors among foreign banks on the Chinese mainland and have won many awards concerning the quality of their service. I have been following their developments over the years and would even be interested in joining their team. After all, with the exponential growth of businesses in China, HSBC is and will continue to be a major player in China and beyond. If you are planning on establishing or developing your mid-level or large business, you may want to comparison shop with HSBC as they are both qualified and competitive.
Below, I have provided a link to one of their ads concerning China. It is quite funny so I hope you enjoy!
http://www.youtube.com/watch?v=6_WAmt3cMdk
Along with providing comic relief, this ad also serves other purposes. Along with explaining some cultural differences between the British and Chinese, another concept in the ad deals with a previous blog post of mine. The social concept of face. Many of my Chinese friends say that in everyday life, this notion of finishing your plate being a slur on your Chinese host isn't really followed. However, they do say traditionally that this view is often held, and respected. So if you are in a dinner meeting with a Chinese host, it would behoove you to know this cultural difference.
As far as face is concerned, if you inadvertently question the generosity of your host, you can cause him/her to lose face in front of their peers and subordinates. This is a cultural taboo in China! I must say that this was never a problem with me. For my hosts often ordered more food than I could ever imagine eating in one sitting. Problem solved!
A few notes about the pictures. The picture on the right is a picture I took at night of the Bund in Shanghai. The HSBC building is the dome-shaped building. The other picture is of the main branch in Hong Kong.
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