Since Chongqing founded its experimental area, biz opportunities in its rural areas have been on the increase, hence appealing to foreign banks. Chongqing Banking Regulatory Bureau revealed recently that HSBC was approved to set up its rural bank, also the first foreign-invested rural bank of Chongqing, in Dazu. The Bank is in the preparatory period currently.

It was reported that the bank named Chongqing Dazu HSBC Rural Bank Co., Ltd (Rural Bank for short) is a wholly-owned subsidiary of HSBC, with registered capital reaching RMB40m.

Persons from HSBC Chongqing Branch disclosed that except basic services, such as deposit and lending, the Rural Bank would launch services of unsecured loan of small amount for peasants, secured loan for township enterprises, discounted note, accounts receivable financing and other trading services.