HSBC's mainland profits up

Hong Kong and Shanghai Banking Corp (HSBC) announced that net profit from its mainland operations in 2003 more than doubled and customer deposits increased by 136% over the previous year. Earnings from China reached US$39 million, up from US$18.8 million in 2002. Customer deposits totaled US$2.8 billion. Overseas banks are now required to report their profits from China operations.