Screenshot of administrative penalty information publicity form of Shanghai Branch of the peoples Bank of China
According to the administrative penalty decision (Shanghai yinxunzi  No. 23-26), HSBC Bank (China) Co., Ltd. has been fined 450000 yuan by Shanghai Branch of the peoples Bank of China for credit inquiry without the authorization of customers.
Li Feng, then vice president of HSBC and director of retail banking and wealth management business department, was responsible for HSBCs credit inquiry without authorization from customers, and was fined 50000 yuan by Shanghai Branch of the peoples Bank of China.
Li Hualun, then general manager of Guangdong retail bank and wealth management business department of HSBC, was responsible for the credit inquiry conducted by HSBC without the authorization of customers, and was fined 20000 yuan by Shanghai Branch of the peoples Bank of China.
Zheng Guowei, the general manager of the collection department under the retail banking and wealth management business department of HSBC at that time, was responsible for the credit inquiry conducted by HSBC without the authorization of customers, and was fined 10000 yuan by Shanghai Branch of the peoples Bank of China.
HSBCs performance plummeted in the first half of the year
According to the first half of the years financial report released by HSBC on March 3, the companys profits and revenues have dropped sharply due to the impact of the new crown epidemic, geopolitics and market factors, and the credit loss has been increasing.
Results show that, compared with the same period last year, HSBCs pre tax profit in the first half of this year dropped by about 65% to $4.3 billion; its revenue fell by about 9% to $26.7 billion; and its expected credit loss increased by $5.7 billion to $6.9 billion.
Noel Quinn, the chief executive of HSBC Group, said that the business in the first half of the year was mainly affected by the outbreak of the new crown epidemic, lower interest rates, increased geopolitical risks and increased market volatility. In response to the epidemic, the group partially suspended the transformation plan launched in February this year, and is now ready to accelerate the implementation of the plan. Under the plan, HSBC will lay off 35000 people, or 15% of its global workforce, in the next three years.
HSBC is one of the worlds largest banking and financial services institutions, headquartered in the UK, with business networks covering more than 60 countries and regions in Europe, Asia and North America, with more than 230000 full-time employees.
According to Tianyan survey, HSBC (China) Co., Ltd. was officially registered on April 2, 2007, with its head office in Shanghai. It is a wholly foreign-owned bank wholly owned by Hongkong and Shanghai Banking Corporation Limited. Its predecessor is the former branch of Hongkong and Shanghai Banking Corporation Limited in mainland China. On February 21, 2014, it announced that it had started to assist Saint Gobain group to carry out cross-border RMB current account centralized collection and payment business, including collection and payment and net settlement, through one of its subsidiaries in Shanghai pilot Free Trade Zone, thus becoming the first batch of banks to carry out such business for enterprises in Shanghai free trade zone.
Two branches of HSBC in mainland China have closed down one after another
On July 23, Huawei lawyers applied to the Canadian court to suspend the extradition process of Meng Wanzhou to the United States. They accused trump and other senior officials of the U.S. government of using Meng Wanzhou as a bargaining chip in trade disputes, undermining the integrity of the Canadian judicial process.
Previously, according to the peoples daily, public evidence showed that the so-called Meng Wanzhou case was a political case concocted by the United States. HSBC participated in the construction and played a very disgraceful role in maliciously doing the Bureau, patching up materials and fabricating criminal evidence.
Map of Meng Wanzhou
HSBC shall, within 15 days from the date of this reply, return the financial license of the above-mentioned sub branches to Shenzhen banking and Insurance Regulatory Bureau, make an external announcement on the withdrawal of the institution, and timely handle the cancellation procedures of industrial and commercial registration.
Timely evaluation and on-demand optimization of service channels is one of the daily tasks as part of the normal network adjustment plan, said the relevant head of HSBC China
In April this year, the Shenzhen banking and insurance regulatory bureau also approved the closure of Shenzhen Zhuoyue century branch of HSBC (China) Co., Ltd.