HSBC was established in Hongkong on 1864 to provide financing services for companies trading with China. 1865 opened, and set up a branch in Shanghai in the same year, and then set up branches in Tianjin, Beijing, Hankou and Chongqing. The bank was founded by the British, or rather the Scots. It was an institution in which British capital invaded old China and controlled the financial market in old China. It issues paper money in China and monopolizes the foreign exchange market. After 19 1 1 year, he obtained the right to deposit customs duties and salt taxes, led the imperialist banking group in China to lend money, and provided aggressive political loans and economic loans such as railways and mines. After liberation, the branches of this bank in China were closed one after another, and only the Shanghai branch was allowed to operate foreign exchange business by the China government. HSBC strengthened its overseas activities in its early years. 1866 The bank set up its first branch in Japan and its first bank in Thailand. 1880, the bank established the first British bank in new york. In the early 20th century, HSBC set up more branches in the Philippines, Singapore, Sri Lanka, India and Malaysia. During this period, the bank also set up branches in London, Lyon and Hamburg. HSBC is the oldest British bank in America, France and Germany.