Localization Strategy Of HSBC And Its Optimization Strategy

Under the background of economic globalization, internationalization is an inevitable way fora company to grow. Localization is an important choice to promote the internationalizationprocess for multinational companies. When these finance companies conducting cross-borderbusinesses, they must take localization strategies in production, procurement, human resource,brand operation, administration and so on. Implementation of localization strategy is undoubtedlyan important bargaining chip for multinational companies in foreign markets, but whetherhigh-quality strategic decisions can produce corresponding economic benefits depends onwhether there is perfect execution.This thesis will use combination of theoretical and empirical analysis, and take qualitative analysisand quantitative analysis to discover globalization and localization strategies of foreign banks,using HSBC as an example. And this essay will further study the obstacles and challenges offoreign banks during the development process in China mainland, trying to resolve thecontradictions of globalization and localization development banking. Meanwhile, combined withlocalization background and current situation in development of HSBC Bank in China, this articlewill find out difficulties and practical problems encountered in the HSBC China localizationstrategy in the implementation process, so as to resolve these problems. Therefore, localization offoreign banks in China faces many uncertain policy factors. Meantime, whether foreign bankscould really implement localization development and make their strengths can also impact China’sdomestic banking reform and internationalization. This paper will summarize the opportunitiesand challenges during the process of localization for foreign banks in China using SWOT and STPanalysis, so that enrich the theory of international development for our domestic Banks and realizelocalization deeply. This will make good efforts for the internationalization and market-orientedhealth development of domestic financial sector, which is the priority goal of in this article.