HSBC Increases Stake in China Brokerage Venture to 90%

HSBC Holdings Plc raised its stake in its Chinese securities venture to 90%, giving Europe’s largest bank a firmer foothold as it pushes to expand in the world’s second largest economy.

The London-based bank raised its ownership in HSBC Qianhai Securities from 51% by partially buying out its partner, Qianhai Financial Holdings Co., which will retain a 10% stake, according to a statement. The transaction amount wasn’t disclosed.

Along with other major banks, HSBC is pushing into China in the hunt for billions of potential profits in everything from brokering deals, to wealth management and insurance as the ...