The outlet will offer a range of banking services but will be initially focused on servicing corporate clients with cross-border financial needs. Its scope and business scale are set to expand further as policies governing the zone evolve, the bank said in a statement.

HSBC China is among the first foreign banks approved to establish a presence in the zone. In November 2013, the company also obtained clearance to operate as a futures margin depository bank by the China Financial Futures Exchange.