HSBC gets China approval for investment banking JV after 20-month wait

HSBC gets China approval for investment banking JV after 20-month wait

People walk past a major branch of HSBC at the financial Central district in Hong Kong, China February 21, 2017. REUTERS/Bobby Yip

HSBC has won Chinese approval for its investment banking joint venture with a local state-backed fund, ending a twenty-month wait for a decision that will allow it to begin expanding its business in the world’s second largest economy.

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