The lender had earlier said that it would revive a massive cost reduction plan that had been put on halt due to Covid-19. This includes cutting 35,000 jobs globally as part of a drive to focus more of its business in Asia, where it makes the bulk of its revenue.
HSBC has already come under fire this month for voicing its support for a new security law that China is planning to enact in Hong Kong.
The bank said in its WeChat statement: “For over 150 years, we have been deeply rooted in China and have never stopped servicing the mainland.
“Since the reform and opening more than 40 years ago, HSBC has been a steadfast backer of and active participant in China’s economic and social development.”
