---- Fußgänger vorbei an einem Zweig von London - Gelistet Standard Chartered Bank in Chongqing, China, 29. April 2011. Britische Banken HSBC Holdings plc
--FILE--Pedestrians walk past a branch of London-listed Standard Chartered Bank in Chongqing, China, 29 April 2011. British banks HSBC Holdings Plc and Standard Chartered Plc are tipped to become the first two foreign banks to set up a presence in Shanghais planned free trade zone, the first of its kind in China, sources said. The two are likely to experiment with a wide range of yuan businesses in the FTZs less-restrictive business environment, they added. We are closely following developments related to the Shanghai Free Trade Zone, and we are excited about the opportunities that the Shanghai FTZ will bring to our clients and customers, Standard Chartered said in an e-mailed statement on Tuesday (10 September 2013). HSBC, another British bank that, like Standard Chartered, relies heavily on Asia-Pacific business, also expressed its interest in the pilot program. The China Banking Regulatory Commissions Shanghai bureau has contacted a small number of foreign banks, including HSBC and Standard Chartered, to see how they want to operate in the FTZ, according to the South China Morning Post. An official from the CBRCs Shanghai bureau said on Tuesday that it is working closely with government departments regarding details of the FTZ, but there is not been enough progress to warrant an announcement. We are committed to contributing to the further development of the Shanghai Free Trade Zone, by fully utilizing our expertise and international network. We do not comment on speculation regarding regulatory approval and decisions, said Standard Chartered.
