HSBC Going Solo in China Credit Cards Boosts Expansion Plan

  • Bank has ended card venture with Bocom, Asia head says
  • HSBC would be just one of three foreign card issuers in China

Stuart Gulliver.

Photographer: Christophe Morin/Bloomberg

HSBC Holdings Plc winning approval to start a credit-card business in China’s $1 trillion market offers Chief Executive Officer Stuart Gulliver added flexibility in his push into the nation’s retail banking and wealth-management industries.

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