HSBC Group has entered into an agreement to acquire one of Taiwan’s leading factoring companies, Chailease Credit Services.

Taiwan is the world’s second largest factoring market, a testament to the island’s prominent position in Asian trade. Chailease Credit Services is the sixth largest factor in Taiwan. It will enable HSBC to increase its receivables finance business in the Greater China region.

“The changed economic and political landscapes of Greater China represent a good opportunity for Maltese businesses. Moreover, HSBC Malta’s strong international links there through its global network has brought the world market place closer than ever to Malta, and HSBC is able to help customers wishing to do business there,” said HSBC Bank Malta’s Chief Executive Officer, Shaun Wallis.

HSBC Group has around 425 offices across China, Hong Kong, Taiwan, Macau and Vietnam, as well as 53 offices in Japan, Korea, Malaysia and Singapore.