HSBC says met with China Investment Corp under investor relations program
22 Jul 2008
Xinhua Newsfeed
HONG KONG (XFN-ASIA) - HSBC unit Hongkong and Shanghai Banking Corp has confirmed that the group's management met with China Investment Corp (CIC) officials, but added that the meetings took place in the normal course of business.
Hongkong and Shanghai Banking Corp chairman Vincent Cheng made the comments to reporters during a visit to China's Heilongjiang province.
Cheng said the group has an active investor relations program which involves frequent contact with funds, shareholders and other potential shareholders.
HSBC's meetings with CIC were part of this program, he said.
HSBC gained more than 4 pct in Hong Kong after a report that CIC, China's sovereign wealth fund, has shown interest in investing in the group, possibly via open-market purchases.
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