HSBC set to go online in China

CHINA - HSBC on Monday became the second foreign bank after Hong Kong's Bank of East Asia to receive a licence to begin online banking in China.

The licence, granted by the People's Bank of China, China's central bank, permits HSBC customers on the mainland to perform online transfers to local and foreign banks, open term deposits and conduct enquiries, the Financial Times reported.

"By the end of this year, the bank plans to add China to its growing online banking base, which comprises over 3.

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