HKMA positive on potential HSBC move back to Hong Kong

[HONG KONG] HSBC's Holdings potential relocation of its headquarters back to Hong Kong is a positive development, the Hong Kong Monetary Authority said in a statement on Friday.

"HSBC is the largest bank in Hong Kong and has deep historical links with Hong Kong," it said in a statement.

Earlier, HSBC, Europe's biggest bank, said it has started a review of whether to move its headquarters out of Britain following regulatory and structural changes in the industry.

Shareholders have urged the bank to consider moving its headquarters to Asia, probably back to Hong Kong.

REUTERS