South China Morning Post published this video item, entitled “HSBC’s break-up dilemma: why bank’s largest shareholder is pushing for change” – below is their description.
The past few years have not been smooth sailing for Asia’s biggest bank, but HSBC now faces one of its biggest dilemmas with pressure mounting from its largest shareholder, Ping An, to break up. Effectively, China’s biggest private insurer is calling for HSBC to split its Asia and western operations. Post senior business reporter Chad Bray unpacks the situation with Alkira Reinfrank, saying that after HSBC’s decision in 2020 to scrap dividends infuriated the bank’s legion of Hong Kong shareholders, this latest development is yet another example of investor strife.
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In This Story: Chad
Chad, officially known as the Republic of Chad, is a landlocked country in north-central Africa. It is bordered by Libya to the north, Sudan to the east, the Central African Republic to the south, Cameroon to the south-west, Nigeria to the southwest (at Lake Chad), and Niger to the west.
The capital N’Djamena is the largest city. Chad’s official languages are Arabic and French. Chad is home to over 200 different ethnic and linguistic groups. Islam (51.8%) and Christianity (44.1%) are the main religions practiced in Chad.
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Hong Kong, officially the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR), is a metropolitan area and special administrative region of the People’s Republic of China on the eastern Pearl River Delta of the South China Sea. With over 7.5 million residents of various nationalities in a 1,104-square-kilometre (426 sq mi) territory, Hong Kong is one of the most densely populated places in the world.
Hong Kong became a colony of the British Empire after the Qing Empire ceded Hong Kong Island at the end of the First Opium War in 1842. The colony expanded to the Kowloon Peninsula in 1860 after the Second Opium War and was further extended when Britain obtained a 99-year lease of the New Territories in 1898. The whole territory was transferred to China in 1997. As a special administrative region, Hong Kong maintains separate governing and economic systems from that of mainland China under the principle of “one country, two systems”.