China's UK envoy sees role for HSBC

Beijing's ambassador to Britain Liu Xiaoming yesterday said that China will offer more opportunities to HSBC (0005).

"China is continuing to promote reform and opening up, and strives to create a better business environment, which will create more opportunities for international business, including #HSBC," Liu posted in a tweet.

Liu also pointed to a Global Times report that the bank is looking forward to expanding business in Shanghai and larger Chinese cities while exploring new investment opportunities. The report had quoted HSBC chairman Mark Tucker during a recent video conference between Shanghai officials and international business leaders.

Ping An Insurance (2318) raised its shareholding of the bank to over 8 percent last month, passing BlackRock and becoming the largest shareholder.