Peter Wong, HSBC Holdings Plc’s head of Hong Kong and China, said yuan settlement between Hong Kong and China may rise to 100 billion yuan this year, the Apple Daily reported. Yuan deposits in Hong Kong may more than double to as much as 200 billion yuan by the end of 2010, the newspaper quoted Wong as saying.
Hong Kong’s government could hold off on changing its curbs on the housing sector and take “some time” for an evaluation as prices haven’t declined sharply, Peter Wong, HSBC Holdings Plc’s Asia Pacific head told reporters in the city today.
HSBC Holdings Plc, Europe’s largest bank by market value, may expand its staff in the Asia-Pacific region by as much as 5 percent by the end of 2013, said Peter Wong, the U.K. bank’s chief executive officer for the region.
HSBC Holdings Plc, the U.K. bank that gets more than half of its profit from Asia , aims to add 2,000 employees in China and Singapore as it accelerates expansion in faster-growing economies, while cutting costs globally.