The Shanghai Banking and Insurance Regulatory Bureau approved HSBC's acquisition of the remaining 50% of the shares of the China life insurance joint venture

Reply of Shanghai Banking and Insurance Regulatory Bureau: approve National Trust Co., Ltd. to transfer 50% of the equity of HSBC Life Insurance Co., Ltd. to HSBC Insurance (Asia) Co., Ltd. After the transfer, HSBC Insurance (Asia) Co., Ltd. holds 100% of the equity of HSBC Life Insurance Co., Ltd. and National Trust Co., Ltd. no longer holds the equity of HSBC Life Insurance Co., Ltd.

(Financial Associated Press)