Chinese Ping An increases pressure on HSBC

The ping-pong match between HSBC and its Chinese shareholder Ping An continues. For the first time, an executive of the Asian insurance giant, Huang Yong, publicly expressed his complaints about the model of the Sino-British bank he called him for several months to question him.

In an interview with several local and international media outlets, Huang Yong criticized the bank’s “global model” and urged it to cut costs more aggressively.