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96-1004: Several buildings carry the HSBC name, and some are often referred to as HSBC Building , HSBC Tower or both: Building [ edit ] HSBC Building (Hong Kong) - 1 Queen's Road Central, Victoria City, Hong Kong HSBC Building Mongkok - 673 Nathan Road, Kowloon, Hong Kong HSBC Building, the Bund - neo-classical landmark on The Bund, Shanghai, China HSBC Canada Building - Vancouver, British Columbia, Canada Marine Midland Building - 140 Broadway, New York City, US (also called HSBC Building) One Centenary Square - Birmingham, United Kingdom - headquarters of HSBC UK Tower [ edit ] Menara IQ, Tun Razak Exchange, Kuala Lumpur, Malaysia HSBC Tower, Lima - twenty-six-floor tower in San Isidro, Lima, Peru HSBC Tower, London - 8 Canada Square, in

192-921: A 212% increase in quarterly profit. East Asia East Asia has long been a crossroads of civilizations, as the region's prominence has facilitated the transmission of ideas, cultural exchanges, commercial trade, scientific and technological cooperation, and migration, as its position and proximity to both the Pacific Ocean and the Continental Asian landmass makes it strategically significant for facilitating international maritime trade and transportation. The contemporary economic, technological, political, and social integration of East Asia coupled with its rich history of diversity, division, and divergent development have all contributed to its enduring complexity, scientific and technological advancement, cultural richness, economic prosperity, and geopolitical significance on

288-553: A European one. Its hegemony was the heart of an empire that would include Taiwan and Korea . During World War II, Japanese expansionism with its imperialist aspirations through the Greater East Asia Co-Prosperity Sphere would incorporate Korea, Taiwan, much of eastern China and Manchuria, Hong Kong, and Southeast Asia under its control establishing itself as a maritime colonial power in East Asia. After

384-627: A bank operating on "sound Scottish banking principles". Still, the original location of the bank was considered crucial and the founders chose Wardley House in Hong Kong since the construction was based on some of the best feng shui in colonial Hong Kong . After raising a capital stock of HK$ 5 million, the bank commenced operations on 3 March 1865. It opened a branch in Shanghai in April of that year and started issuing locally denominated banknotes in both

480-501: A century of exploitation by the European and Japanese colonialists, post-colonial East Asia saw the defeat and occupation of Japan by the victorious Allies as well as the division of China and Korea during the Cold War . The Korean peninsula became independent but then it was divided into two rival states , while Taiwan became the main territory of de facto state Republic of China after

576-450: A common writing system reflected in the histories of Japan and Korea . The Imperial Chinese tributary system was the bedrock of network of trade and foreign relations between China and its East Asian tributaries, which helped to shape much of East Asian affairs during the ancient and medieval eras. Through the tributary system, the various dynasties of Imperial China facilitated frequent economic and cultural exchange that influenced

672-491: A measurable increase in the frequency and severity of heatwaves . The region is also expected to see the intensification of its monsoon, leading to more flooding. China has notably embarked on the sponge cities program, where cities are designed to increase the area of urban green spaces and permeable pavings in order to help deal with flash floods caused by greater precipitation extremes. Under high-warming scenarios, "critical health thresholds" for heat stress during

768-582: A new business unit as Wealth and Personal Banking. In October 2020, HSBC committed to achieve zero-emission by 2050, e.g., by this year it would not only become carbon neutral by itself but also will work only with carbon-neutral clients. It also committed to providing 750–1,000 billion dollars to help clients make the transition. It also pledged to achieve carbon neutrality in his own operations by 2030. In January 2021, HSBC announced that it would be closing 82 branches in Britain. In May 2021, HSBC announced

864-829: A new coal policy and provide further detail on its climate strategy by the end of 2021. The organisation's "Thermal Coal Phase-Out Policy" was published in December 2021. In August 2021, HSBC announced the acquisition of AXA Singapore. HSBC Insurance (Asia-Pacific) Holdings Ltd, an indirect wholly-owned subsidiary of HSBC would acquire 100% of the issued share capital of AXA Singapore for $ 575m. In December 2021, HSBC Asset Management (India) Private Ltd, an indirect wholly-owned subsidiary of HSBC announced it would acquire L&T Investment Management for $ 425 million from L&T Finance Holdings . In June 2022, HSBC announced its intention to sell its business in Russia. This requires approval from

960-463: A new subsidiary, Wealth and Tax Advisory Services USA Inc. ( WTAS ), would purchase a portion of Andersen's tax practice. The new HSBC Private Client Services Group would serve the wealth and tax advisory needs of high-net-worth individuals. Then in August 2002 HSBC acquired Grupo Financiero Bital, SA de CV, Mexico's third largest retail bank for $ 1.1 billion. In November 2002, HSBC expanded further in

1056-617: A number of controversies and the bank has been repeatedly fined for money laundering (sometimes in relation to major criminal organizations such as the Sinaloa cartel ) or setting up large scale tax avoidance schemes. After the British established Hong Kong as a crown colony in the aftermath of the First Opium War , merchants from other parts of the British Empire, now in Hong Kong, felt

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1152-463: A preferred location for money laundering. The United States Department of Justice , however, decided not to pursue criminal penalties, a decision which the New York Times labelled a "dark day for the rule of law." HSBC chief executive Stuart Gulliver said: "We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again." In July 2013, Alan Keir

1248-509: A record $ 1.92 billion fine in this money laundering case. It was reported that bank officials consistently overlooked internal warnings about the inadequacy of HSBC's monitoring systems, according to the Justice Department. For example, in 2008, the CEO of HSBC Mexico was reportedly informed by Mexican law enforcement about a recording of a Mexican drug lord, who indicated that HSBC Mexico was

1344-412: A representative office. HSBC announced renaming of its Personal Financial Services (PFS) business group to Retail Banking and Wealth Management (also known as RBWM) on HSBC's 2011 Investor Day. On 11 May 2013, the new chief executive Stuart Gulliver announced that HSBC would refocus its business strategy and that a large-scale retrenchment of operations, particularly in respect of the retail sector,

1440-608: A shared written language, a shared culture, and a shared Confucian societal value system (involving shared Confucian philosophical tenets) once instituted by Imperial China. Other usages define China, Hong Kong, Macau, Japan, North Korea, South Korea and Taiwan as countries that constitute East Asia based on their geographic proximity as well as historical and modern cultural and economic ties, particularly with Japan and Korea in having retained strong cultural influences that originated from China. Some scholars include Vietnam as part of East Asia as it has been considered part of

1536-769: A substantial market presence in the United Kingdom. As part of the takeover conditions for the acquisition of the bank thereof, HSBC Holdings plc was required to relocate its world headquarters from Hong Kong to London in 1993. Major acquisitions in South America started with the purchase of the Banco Bamerindus of Brazil for $ 1 billion in March 1997 and the acquisition of Roberts SA de Inversiones of Argentina for $ 600 million in May 1997. In May 1999, HSBC expanded its presence in

1632-401: A total 470 branches before divestments. On 9 August 2011, Capital One Financial Corp. agreed to acquire HSBC's U.S. credit card business for $ 2.6 billion, netting HSBC Holdings an estimated after-tax profit of $ 2.4 billion. In September it was announced that HSBC sought to sell its general insurance business for around $ 1 billion. In 2012, HSBC was the subject of hearings of

1728-570: A £12.5 billion (US$ 17.7 billion; HK$ 138 billion) rights issue to enable it to buy other banks that were struggling to survive. However, uncertainty over the rights issue's implications for institutional investors caused volatility in the Hong Kong stock market: on 9 March 2009 HSBC's share price fell 24.14%, with 12 million shares sold in the last few seconds of trading. On 25 April 2011, HSBC decided to shut down its retail banking business in Russia and reduce its private banking presence to

1824-569: Is a 90% HSBC-owned joint venture. In November 2022, HSBC announced its intention to exit the Canadian market. Royal Bank of Canada would acquire 100% of the common shares of HSBC Canada for an all-cash purchase price of $ 13.5 billion, 9.4 times HSBC Canada's estimated 2024 earnings. Completion of the transaction is expected by late 2023, subject to regulatory approvals. HSBC has been under pressure to cut costs and divest non-Asian businesses. In February 2023, HSBC announced that its profits for

1920-475: Is different from Wikidata All article disambiguation pages All disambiguation pages HSBC HSBC Holdings plc ( Chinese : 滙豐 ; initialism from its founding member The Hongkong and Shanghai Banking Corporation ) is a British universal bank and financial services group headquartered in London , England, with historical and business links to East Asia and a multinational footprint. It

2016-511: Is sometimes grouped with Central Asian countries such as Turkmenistan, Kyrgyzstan, and Kazakhstan. Xinjiang and Tibet are sometimes seen as part of Central Asia (see also Greater Central Asia ). Broader and looser definitions by international agencies and organisations such as the World Bank refer to East Asia as the "three major Northeast Asian economies, i.e. mainland China , Japan, and South Korea ", as well as Mongolia, North Korea ,

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2112-534: Is the largest Europe-based bank by total assets , ahead of BNP Paribas , with US$ 2.919  trillion as of December 2023. In 2021, HSBC had $ 10.8 trillion in assets under custody (AUC) and $ 4.9 trillion in assets under administration (AUA). HSBC traces its origin to a hong trading house in British Hong Kong . The bank was established in 1865 in Hong Kong and opened branches in Shanghai in

2208-485: Is very sparsely distributed, with Mongolia having the lowest population density of a sovereign state . The overall population density of the region is 133 inhabitants per square kilometre (340/sq mi), about three times the world average of 45/km (120/sq mi). China was the first region settled in East Asia and was undoubtedly the core of East Asian civilization from where other parts of East Asia were formed. The various other regions in East Asia were selective in

2304-694: The Bank of Communications of Shanghai. In the United Kingdom HSBC acquired Marks & Spencer Retail Financial Services Holdings Ltd for £763 million in December 2004. Acquisitions in 2005 included Metris Inc, a US credit card issuer for $ 1.6 billion in August and 70.1% of Dar es Salaam Investment Bank of Iraq in October. In April 2006, HSBC bought the 90 branches in Argentina of Banca Nazionale del Lavoro for $ 155 million. In December 2007 HSBC acquired

2400-551: The Nara period , Japan began to aggressively import Chinese culture and styles of government which included Confucian protocol that served as a foundation for Japanese culture as well as political and social philosophy. The Japanese also created laws adopted from the Chinese legal system that was used to govern in addition to the kimono , which was inspired from Chinese hanfu during the eighth century. For many centuries, most notably from

2496-601: The Russian Far East , and Siberia . The Council on Foreign Relations includes the Russia Far East, Mongolia, and Nepal . The World Bank also acknowledges the roles of Chinese special administrative regions Hong Kong and Macau , as well as Taiwan , a country with limited recognition. The Economic Research Institute for Northeast Asia defines the region as "China, Japan, the Koreas , Nepal, Mongolia, and eastern regions of

2592-540: The Russian Federation ". The UNSD definition of East Asia is based on statistical convenience, but others commonly use the same definition of Mainland China, Hong Kong, Macau, Mongolia, North Korea, South Korea, Taiwan, and Japan. Certain Japanese islands are associated with Oceania due to non-continental geology, distance from mainland Asia or biogeographical similarities with Micronesia . Some groups, such as

2688-420: The U.S. Senate permanent subcommittee for investigations for severe deficiencies in its anti-money laundering practices (see Controversies ). On 16 July the committee presented its findings. Among other things, it concluded that HSBC had been transferring $ 7 billion in banknotes from its Mexican to its US subsidiary (much of it related to drug dealing ), was disregarding terrorist financing links and

2784-588: The World Health Organization , categorize China, Japan and Korea with Australia and the rest of Oceania. The World Health Organization label this region the "Western Pacific", with East Asia not being used in their concept of major world regions. Their definition of this region further includes Mongolia and the adjacent area of Cambodia , as well as the countries of the South East Asia Archipelago (excluding East Timor and Indonesia ). In

2880-601: The economic rise of Hong Kong , South Korea , and Taiwan , in addition to the respective handovers of Hong Kong and Macau near the end of the twentieth century. The onset of the 21st-century in East Asia led to the integration of Mainland China into the global economy through its entry in the World Trade Organization while also enhancing its emerging international status as a potential world power reinforced with its aim of restoring its historical established significance and enduring international prominence in

2976-649: The frontier regions ), 16 native to the island of Taiwan (collectively known as Taiwanese indigenous peoples ), one native to the major Japanese island of Hokkaido (the Ainu ) and four native to Mongolia ( Turkic peoples ). The Ryukyuan people are an unrecognized ethnic group indigenous to the Ryukyu Islands in southern Japan, which stretch from Kyushu to Taiwan. There are also several unrecognized indigenous ethnic groups in mainland China and Taiwan. East Asians comprise around 1.7 billion people, making up about 33% of

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3072-576: The 17 banks in the UK that were "facing questions over what they knew about the international scheme and why they did not turn away suspicious money transfers," as HSBC "processed $ 545.3m in Laundromat cash, mostly routed through its Hong Kong branch." Other banks facing scrutiny under the investigation included the Royal Bank of Scotland , NatWest , Lloyds , Barclays and Coutts . In response, HSBC stated that it

3168-769: The 1860s. Around the same time, the Meiji Restoration in Japan sparked rapid societal transformation from an isolated feudal state into East Asia's first industrialised nation. The modern and militarily powerful Japan would galvanise its position in the Orient as East Asia's greatest power with a global mission poised to advance to lead the entire world. By the early 1900s, the Empire of Japan succeeded in asserting itself as East Asia's most dominant geopolitical force. With its newly found international status, Japan would begin to challenge

3264-542: The 21st century will be at times breached, in areas like the North China Plain . China, Japan and the Republic of Korea are expected to see some of the largest economic losses caused by sea level rise. The city of Guangzhou is projected to experience the single largest annual economic losses from sea level rise in the world, potentially reaching US$ 254 million by 2050. Under the highest climate change scenario and in

3360-696: The 21st century. Baseball is one of the main sports in East Asia, having been introduced through mid-19th century American contact and further spread by the Japanese Empire. The game has gained millions of fans in China since the 2010s. Formerly the East Asian Games , it is a multi-sport event organized by the East Asian Games Association (EAGA) and held every four years since 2019 among athletes from East Asian countries and territories of

3456-490: The 7th to the 14th centuries, China stood as East Asia's most advanced civilization and foremost military and economic power, exerting its influence as the transmission of advanced Chinese cultural practices and ways of thinking greatly shaped the region up until the nineteenth century. As East Asia's connections with Europe and the Western world strengthened during the late nineteenth century, China's power began to decline. By

3552-924: The Canary Wharf development, Isle of Dogs, London, UK HSBC Tower, Shanghai - Forty-six-floor tower in Lujiazui, Pudong, Shanghai, China HSBC Tower, Mexico City - Paseo de la Reforma, Mexico City, Mexico HSBC Tower, Midtown Manhattan (USA Headquarters) - 452 Fifth Ave., Manhattan, New York City, US Other [ edit ] HSBC Arena (Buffalo) - Buffalo, New York, US HSBC Arena (Rio de Janeiro) - Rio de Janeiro, Brazil HSBC Centre - Kowloon, Hong Kong HSBC GLT India - Global Technology Center in Pune, India HSBC Tower - 188 Quay Street, Auckland , New Zealand One HSBC Center - Buffalo, New York, US One HSBC Plaza - Rochester, New York, US One HSBC Plaza - Binghamton , New York, US Topics referred to by

3648-635: The Chinese Bank in Taiwan. In May 2008, HSBC acquired IL&FS Investment, an Indian retail broking firm. On August 3, 2008, HSBC began its banking operations in Algeria with the opening of a branch in Algiers. In 2005, Bloomberg Markets magazine accused HSBC of money laundering for drug dealers and state sponsors of terrorism. Then-CEO Stephen Green said that "This was a singular and wholly irresponsible attack on

3744-933: The Chinese influences they adopted into their local customs. Historian Ping-ti Ho referred to China as the cradle of Eastern civilization, in parallel with the cradle of Middle Eastern civilization along the Fertile Crescent encompassing Mesopotamia and Ancient Egypt as well as the cradle of Western civilization encompassing Ancient Greece . Chinese civilization emerged early, and prefigured other East Asian civilisations. Throughout history, imperial China would exert cultural, economic, technological, and political influence on its neighbours. Succeeding Chinese dynasties exerted enormous influence across East Asia culturally, economically, politically and militarily for over two millennia. The tributary system of China shaped much of East Asia's history for over two millennia due to Imperial China's economic and cultural influence over

3840-683: The Crown Colony and Shanghai soon afterwards. The bank was incorporated in Hong Kong as The Hongkong and Shanghai Banking Corporation by the Hongkong and Shanghai Bank Ordinance (Numbers 2 and 5 of 1866), and a branch in Japan was also established in Yokohama in 1866. Shares of the bank were one of 13 securities initially traded on the Shanghai Stock Exchange , and were traded on that exchange until

3936-600: The European colonial powers and inextricably took on a more active role within the East Asian geopolitical order and world affairs at large. Flexing its nascent political and military might, Japan soundly defeated the stagnant Qing dynasty during the First Sino-Japanese War as well as defeating Russia in the Russo-Japanese War in 1905; the first major military victory in the modern era of an East Asian power over

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4032-607: The Han Chinese conquered the northern part of the Korean peninsula and established a province called Lelang . Chinese influences were transmitted and soon took root in Korea through the inclusion of the Chinese writing system, monetary system, rice culture, philosophical schools of thought, and Confucian political institutions. Jomon society in ancient Japan incorporated wet-rice cultivation and metallurgy through its contact with Korea. Starting in

4128-496: The Japanese closed the exchange in 1941 . Sir Thomas Jackson became chief manager in 1876. During his twenty-six-year tenure, the bank became a leader in Asia. A period of expansion followed, with new buildings constructed in Bangkok (1921), Manila (1922) and Shanghai (1923), and a new head office building in Hong Kong in 1935. Bank note issuance displaced other forms of the era and of

4224-624: The Russian government, and the deal is expected to close in the first half of 2024. The projected loss is $ 300 million. A possible buyer is the Russian Expobank . In February 2024, the President of Russia allowed HSBC and Expobank to carry out this transaction. In July 2022, HSBC became the first foreign lender to open a Chinese Communist Party (CCP) committee in its Chinese investment banking subsidiary. The subsidiary, HSBC Qianhai Securities,

4320-628: The Tang political system, Prince Naka no oe launched the Taika Reform in 645 AD where he radically transformed Japan's political bureaucracy into a more centralised bureaucratic empire. The Japanese also adopted Mahayana Buddhism, Chinese style architecture, and the imperial court's rituals and ceremonies, including the orchestral music and state dances had Tang influences. Written Chinese gained prestige and aspects of Tang culture such as poetry , calligraphy , and landscape painting became widespread. During

4416-458: The United States with the purchase of Republic National Bank of New York for $ 10.3 billion. Expansion into Continental Europe took place in April 2000 with the acquisition of Crédit Commercial de France , a large French bank, for £6.6 billion. In July 2001 HSBC bought Demirbank , an insolvent Turkish bank. In July 2002, Arthur Andersen announced that HSBC USA, Inc., through

4512-403: The United States. Under the chairmanship of John Bond, it spent £9 billion (US$ 15.5 billion) to acquire Household Finance Corporation (HFC) , a US credit card issuer and subprime lender. In a 2003 cover story, The Banker noted "when banking historians look back, they may conclude that [it] was the deal of the first decade of the 21st century". Under the new name of HSBC Finance ,

4608-663: The absence of adaptation, cumulative economic losses caused by sea level rise in Guangzhou would exceed US$ 1 trillion by 2100. Shanghai is also expected to experience annual losses of around 1% of the local GDP in the absence of adaptation. The Yangtze River basin is a sensitive and biodiverse ecosystem, yet around 20% of its species may be lost throughout the century under 2 °C (3.6 °F) and ~43% under 4.5 °C (8.1 °F). China, North Korea, South Korea and Taiwan are all unrecognised by at least one other East Asian state because of severe ongoing political tensions in

4704-406: The bank reportedly telling Mossack Fonseca it was "comfortable" with Rami Makhlouf as a customer, even though US Treasury sanctions against him were in effect at the time. On 20 March 2017, the British newspaper The Guardian reported that hundreds of banks had helped launder KGB -related funds out of Russia , as uncovered by an investigation named Global Laundromat . HSBC was listed among

4800-670: The bank's international compliance procedures", but subsequent investigation indicated that it was accurate and proved that the bank was involved in money laundering for the Sinaloa Cartel and throughout Mexico . In July 2006, HSBC announced that it would acquire Westpac 's sub-custody operations in Australia and New Zealand for $ 112.5 million, making HSBC the leading sub-custody and clearing player in Australia and New Zealand. In 2007, HSBC wrote down its holdings of subprime-related mortgage securities by $ 10.5 billion, becoming

4896-525: The bounds of the Asia-Pacific, although the term Indo-Pacific is more commonly used for such a definition. Observers preferring a broader definition of "East Asia" often use the term Northeast Asia to refer to China, the Korean Peninsula, and Japan, with the region of Southeast Asia covering the ten ASEAN countries. This usage, which is seen in economic and diplomatic discussions, is at odds with

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4992-560: The branch network of its HSBC Finance arm in the United States, leading to nearly 6,000 job losses and leaving only the credit card business to continue operating. Chairman Stephen Green stated, "HSBC has a reputation for telling it as it is. With the benefit of hindsight, this is an acquisition we wish we had not undertaken." According to analyst Colin Morton, "the takeover was an absolute disaster". In March 2009, it announced that it had made US$ 9.3 billion of profit in 2008 and announced

5088-446: The business conduct of HSBC under the title Swiss Leaks based on the 2007 hacked HSBC account records from whistle-blower Hervé Falciani . The ICIJ alleges that the bank profited from doing business with corrupt politicians, dictators, tax evaders, dealers of blood diamonds, arms dealers and other clients. US Senate investigators in 2012 had sought the hacked HSBC account records from Falciani and French authorities, but never received

5184-488: The classics of Chinese literature and culture were seen as the foundations for a civilized life in East Asia. Imperial China served as a vehicle through which the adoption of Confucian ethical philosophy, Chinese calendar system, political and legal systems, architectural style, diet, terminology, institutions, religious beliefs, imperial examinations that emphasised a knowledge of Chinese classics, political philosophy and cultural value systems, as well as historically sharing

5280-551: The context of business and economics, "East Asia" is sometimes used to refer to the geographical area covering ten Southeast Asian countries in ASEAN , Greater China , Japan, and Korea. However, in this context, the term " Far East " is used by the Europeans to cover ASEAN countries and the countries in East Asia. On rare occasions, the term is also sometimes taken to include India and other South Asian countries that are not situated within

5376-433: The cultures of Japan and Korea and drew them into a Chinese international order. The Imperial Chinese tributary system shaped much of East Asia's foreign policy and trade for over two millennia due to Imperial China's economic and cultural dominance over the region, and thus played a huge role in the history of East Asia in particular. The relationship between China and its cultural influence on East Asia has been compared to

5472-575: The data. HSBC announced in August 2015 that it would be selling its Brazilian unit to Banco Bradesco for $ 5.2 billion following years of disappointing performance. In 2015, HSBC was recognised as the most trusted foreign bank in India by The Brand Trust Report 2015. In 2016, the bank was mentioned numerous times in connection with the Panama Papers investigation. Many Syrians were angered when their accounts were judged high-risk and closed, despite

5568-599: The division was the second largest subprime lender in the United States. The new headquarters of HSBC Holdings at 8 Canada Square , London officially opened in April 2003. In July 2003, HSBC announced that it had agreed to acquire 82.19% of the Korean fund administrator, Asset Management Technology (AM TeK), for $ 12.47 million in cash; it was the largest fund administrator in South Korea, with $ 24 billion of assets under administration. In September 2003 HSBC bought Polski Kredyt Bank SA of Poland for $ 7.8 million. In June 2004 HSBC expanded into China buying 19.9% of

5664-413: The exit of US retail banking business by selling 10 California branches to Cathay Bank and 80 branches to Citizens Financial Group and closing the remaining branches. The bank said it intends to focus on the banking and wealth management needs of globally connected affluent and high net worth clients. In May 2021, HSBC committed to end the financing of the coal industry , with a commitment to publish

5760-456: The first major bank to report its losses due to the unfolding subprime mortgage crisis . According to Bloomberg , "HSBC is one of world's strongest banks by some measures". When HM Treasury required all UK banks to increase their capital in October 2007, the group transferred £750 million to London within hours, and announced that it had just lent £4 billion to other UK banks. In March 2009, HSBC announced that it would shut down

5856-453: The fourth century AD and Japan by the seventh century AD, Japan and Korea actively began to incorporate Chinese influences such as Confucianism , the use of Chinese characters , architecture , state institutions, political philosophies , religion, urban planning, and various scientific and technological methods into their culture and society through direct contacts with Tang China and succeeding Chinese dynasties. Drawing inspiration from

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5952-466: The fourth century AD, Japan adopted Chinese characters , which remain integral to the Japanese writing system . Utilizing the Chinese writing system allowed the Japanese to conduct their daily activities, maintain historical records and give form to various ideas, thoughts, and philosophies. During the Tang dynasty , China exerted its greatest influence on East Asia as various aspects of Chinese culture spread to Japan and Korea . The establishment of

6048-429: The greater Chinese cultural sphere . Though Confucianism continues to play an important role in Vietnamese culture, Chinese characters are no longer used in its written language and many scholarly organizations classify Vietnam as a Southeast Asian country. Mongolia is geographically north of Mainland China yet Confucianism and the Chinese writing system and culture had limited impact on Mongolian society. Thus, Mongolia

6144-415: The historical influence of Greco-Roman civilization on classical Western civilisation. Religion in East Asia (2020) *Japan switched the date to the Gregorian calendar after the Meiji Restoration. *Not always on that Gregorian date, sometimes April 4. East Asian popular culture, such as anime and manga from Japan and K-pop and K-dramas from South Korea, have become highly popular worldwide in

6240-423: The historical meanings of both "East Asia" and "Northeast Asia". The Council on Foreign Relations of the United States defines Northeast Asia as Japan and Korea. East Asia is home to many climatic zones. It also has unique weather patterns such as the East Asian rainy season and the East Asian Monsoon . Like the rest of the world, East Asia has been getting warmer due to climate change, and there had been

6336-528: The indigenous populations of northeastern China such as the Manchus . The major languages in East Asia include Mandarin Chinese , Japanese , and Korean . The major ethnic groups of East Asia include the Han in China and Taiwan, Yamato in Japan, and Koreans in North and South Korea. and Mongols in Mongolia. There are 76 officially-recognized minority or indigenous ethnic groups in East Asia; 55 native to mainland China (including Hui , Manchus, Chinese Mongols , Tibetans, Uyghurs , and Zhuang in

6432-453: The largest unified population in East Asia, the most literate and urbanised as well as being the most economically developed, as well as the most technologically and culturally advanced civilization in the region at the time. Cultural and religious interaction between the Chinese and other regional East Asian dynasties and kingdoms occurred. China's impact and influence on Korea began with the Han dynasty's northeastern expansion in 108 BC when

6528-536: The last quarter of 2022 had almost doubled compared to those at the same time the previous year. However, its pre-tax profit actually fell because it absorbed the cost of selling its French retail banking operations. The bank also announced that they were closing 114 branches in the United Kingdom. The move came as more people were using online banking since the pandemic, reducing the need for physical branches. The move has been criticized by Unite . As interest rates increased globally in May 2023, HSBC Holdings reported

6624-414: The latter lost Mainland China to the People's Republic of China in the Chinese Civil War . During the latter half of the twentieth century, the region would see the post war economic miracle of Japan , which ushered in three decades of unprecedented growth, only to experience an economic slowdown during the 1990s , but nonetheless Japan continues to remain a global economic power. East Asia would also see

6720-409: The local and international needs of domestic and overseas clients", HSBC agreed to sell 195 branches in New York and Connecticut to First Niagara Financial Group Inc , and divestures to KeyCorp , Community Bank, N.A. and Five Star Bank for around $ 1 billion, and announced the closure of 13 branches in Connecticut and New Jersey . The rest of HSBC's U.S. network will only be about half from

6816-652: The medieval Tang dynasty rekindled the impetus of Chinese expansionism across the geopolitical confines of East Asia. Similar to its Han predecessor, Tang China reasserted itself as the center of East Asian geopolitical influence during the early medieval period which spearheaded and marked another golden age in Chinese history . During the Tang dynasty, China exerted its greatest influence on East Asia as various aspects of Chinese culture spread to Japan and Korea. In addition, Tang China also managed to maintain control over northern Vietnam and northern Korea . As full-fledged medieval East Asian states were established, Korea by

6912-420: The mid-nineteenth century, the weakening Qing dynasty became fraught with political corruption, obstacles and stagnation that was incapable of rejuvenating itself as a world power in contrast to the industrializing Imperial European colonial powers and a rapidly modernizing Japan. The United States Commodore Matthew C. Perry would open Japan to Western influence , and the country would expand in earnest after

7008-567: The need for a bank to finance the growing trade, through Hong Kong and sometimes also through Shanghai, between China and India , the rest of the British Empire and Europe, of goods, produces and merchandises of all kinds, but especially opium , cultivated in or transited (re-exported) through the Raj . The founder, Thomas Sutherland of the Peninsular and Oriental Steam Navigation Company , wanted

7104-449: The next chairman. However, while many current and former senior employees supported the tradition of promoting the chief executive to chairman, many shareholders instead pushed for an external candidate. HSBC's board of directors had reportedly been split over the succession planning and investors were alarmed that the row would damage the company. On 23 September 2010, Geoghegan announced he would step down as chief executive of HSBC. He

7200-571: The population in Continental Asia and 20% of the global population. The region is home to major world metropolises such as Beijing – Tianjin , Busan – Daegu – Ulsan – Changwon , Guangzhou , Hong Kong , Osaka – Kyoto – Kobe , Seoul , Shanghai , Shenzhen , Taipei , and Tokyo . Although the coastal and riparian areas of the region form one of the world's most populated places, the population in Mongolia and Western China , both landlocked areas,

7296-467: The present day include the Japanese , Korean , and Mongolian civilizations. Various other civilizations existed as independent polities in East Asia in the past but have since been absorbed into neighbouring civilizations in the present day, such as Tibet , Manchuria , and Ryukyu (Okinawa), among many others. Taiwan has a relatively young history in the region after the prehistoric era ; originally, it

7392-553: The region, and thus played a huge role in the history of East Asia in particular. Imperial China's cultural preeminence not only led the country to become East Asia's first literate nation in the entire region, it also supplied Japan and Korea with Chinese loanwords and linguistic influences rooted in their writing systems. Under Emperor Wu of Han , the Han dynasty made China the regional powerhouse in East Asia, projecting much of its imperial influence onto its neighbours. Han China hosted

7488-416: The region, specifically the division of Korea and the political status of Taiwan . thousands (2023) [REDACTED] The culture of East Asia has been deeply influenced by China , as it was the civilization that had the most dominant influence in the region throughout the ages that ultimately laid the foundation for East Asian civilization. The vast knowledge and ingenuity of Chinese civilization and

7584-660: The region, such as silver taels , due to political and economic instability. HSBC gained significant influence as a result. Michael Turner became chief manager in 1953 and set about diversifying the business. His tenure came to an end in 1962 having established The Hong Kong and Shanghai Banking Corporation of California 1955 and having acquired The British Bank of the Middle East and the Mercantile Bank (based in India) in Aug 1959. Turner

7680-555: The root from which many other East Asian calendars are derived. Major religions in East Asia include Buddhism (mostly Mahayana ), Confucianism and Neo-Confucianism , Taoism , ancestral worship , and Chinese folk religion in Mainland China, Hong Kong , Macau and Taiwan , Shinto in Japan, and Christianity and Musok in Korea. Tengerism and Tibetan Buddhism are prevalent among Mongols and Tibetans while other religions such as Shamanism are widespread among

7776-423: The same term [REDACTED] This disambiguation page lists articles associated with the title HSBC Building . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=HSBC_Building&oldid=1186256628 " Category : Disambiguation pages Hidden categories: Short description

7872-614: The same year. It was first formally incorporated in 1866. In 1991, the present parent legal entity, HSBC Holdings plc , was established in London and the historic Hong Kong–based bank from whose initials the group took its name became that entity's fully-owned subsidiary. The next year (1992), HSBC took over Midland Bank and thus became one of the largest domestic banks in the United Kingdom. HSBC has offices, branches and subsidiaries in 62 countries and territories across Africa, Asia, Oceania, Europe, North America, and South America, serving around 39 million customers. As of 2023, it

7968-651: The two Indonesian military officers responsible for the bombing were tried and executed. The present building in Hong Kong was designed by Sir Norman Foster and was held as one of the most expensive and technologically advanced buildings in the world in 1986, costing HK$ 5.3 billion. On 6 October 1989, it was registered as a regulated bank with the Banking Commissioner of the Government of Hong Kong . HSBC Holdings plc, originally incorporated in England and Wales,

8064-418: The world economy. As of at least 2022, the region is more peaceful, integrated, wealthy, and stable than any time in the previous 150 years. In common usage, the term "East Asia" typically refers to a region including Greater China , Japan , Korea and Mongolia . China , Japan , and Korea represent the three core countries and civilizations of traditional East Asia, as they once had

8160-513: The world stage. With the region having been home to various influential empires, kingdoms, and dynasties throughout history, each leaving its mark on the region and transforming the region's geopolitical landscape ranging from distinct dynastic kingdoms to colonial possessions to independent modern nation-states. East Asia, especially Chinese civilization , is regarded as one of the earliest cradles of civilization . Other ancient civilizations in East Asia that still exist as independent countries in

8256-478: The year. The consumer banking division of HSBC will focus on the UK, Hong Kong , high-growth markets such as Mexico, Singapore, Turkey, and Brazil, and smaller countries where it has a leading market share. According to Reuters, Chief Executive Stuart Gulliver told the media, "There will be further job cuts. There will be something like 25,000 roles eliminated between now and the end of 2013." In August 2011 "to align our U.S. business with our global network and meet

8352-530: Was a major site of Austronesian civilisation prior to colonisation by European colonial powers and China from the 17th century onward. For thousands of years, China was the leading civilization in the region, exerting influence on its neighbours. Historically, societies in East Asia have fallen within the Chinese sphere of influence , and East Asian vocabularies and scripts are often derived from Classical Chinese and Chinese script . The Chinese calendar serves as

8448-480: Was a non-trading, dormant shelf company when it completed its transformation on 25 March 1991 into the parent holding company to the Hongkong and Shanghai Banking Corporation Limited now as a subsidiary, in preparation for its purchase of the UK-based Midland Bank and the impending transfer of sovereignty of Hong Kong to China. HSBC Holdings' acquisition of Midland Bank was completed in 1992 and gave HSBC

8544-614: Was actively circumventing US safeguards designed to prevent transactions involving terrorists, drug lords and rogue regimes, including hiding $ 19.4 billion in transactions with Iran. This investigation followed on from a probe by the US Federal Reserve and Office of the Comptroller of the Currency found that there was "significant potential for unreported money laundering or terrorist financing". On 11 December 2012, HSBC agreed to pay

8640-488: Was against financial crime, and that the case "highlights the need for greater information sharing between the public and private sectors." On 1 October 2017, Mark Tucker succeeded Douglas Flint as group chairman of HSBC, the first non-executive and outside chairman appointed by the group. Also in October 2017, HSBC announced that John Flint, chief executive of Retail Banking and Wealth Management, would succeed Stuart Gulliver as Group Chief Executive on 21 February 2018. It

8736-502: Was appointed chief executive of HSBC Bank plc after Brian Robertson's resignation. Keir's duties include overseeing the firm's UK, European, Middle Eastern, and African divisions. In June 2014, an indirect wholly-owned subsidiary HSBC Life (UK) Limited agreed to sell its £4.2 billion UK pensions business to Swiss Re . In February 2015 the International Consortium of Investigative Journalists released information about

8832-526: Was further announced on 5 August 2019 that Flint was leaving and his role would be filled on a temporary basis by Noel Quinn, head of HSBC's global commercial bank. Noel Quinn was subsequently appointed to the role on a permanent basis in March 2020. In February 2020, HSBC announced it would cut 35,000 jobs worldwide after it was announced corporate profits decreased by 33% in 2019. In 2020, HSBC announced merging two of its business lines: Retail Banking and Wealth Management & Global Private Banking to form

8928-478: Was planned. HSBC would no longer seek to be 'the world's local bank', as costs associated with this were spiraling and US$ 3.5 billion needed to be saved by 2013, with the aim of bringing overheads down from 55% of revenues to 48%. In 2010, then-chairman Stephen Green planned to depart HSBC to accept a government appointment in the Trade Ministry. Group Chief Executive Michael Geoghegan was expected to become

9024-763: Was ranked no. 20 in the world in the Forbes rankings of large companies ranked by sales, profits, assets, and market value. HSBC has a dual primary listing on the Hong Kong Stock Exchange and London Stock Exchange and is a constituent of the Hang Seng Index and the FTSE 100 Index . It has secondary listings on the New York Stock Exchange , and the Bermuda Stock Exchange . HSBC has been implicated in

9120-424: Was succeeded as chief executive by Stuart Gulliver , while Green was succeeded as chairman by Douglas Flint ; Flint was serving as HSBC's finance director (chief financial officer). August 2011: Further to CEO Stuart Gulliver's plan to cut $ 3.5 billion in costs over the next two years, HSBC announced that it will cut 25,000 jobs and exit from 20 countries by 2013 in addition to 5,000 job cuts announced earlier in

9216-653: Was succeeded in 1962 by Jake Saunders . In 1964 the Chief Managership was superseded as the top executive role in the bank by an Executive Chairmanship. During the Konfrontasi period in the 1960s, a group of Indonesian forces bombed the MacDonald House building in Singapore (at the time used by HSBC) just a few months after Singapore was granted its independence from Malaysia. Three people were killed, 33 injured, and

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