HSBC training facility breaks ground

HSBC, one of the world's largest banking and financial services organizations, began construction of its first global training center in the capital of Guangdong province, on Monday.

The center, located in Nansha and part of Guangdong's pilot free trade zone, is scheduled to open in 2024, sources with the local government said.

With an investment of more than $150 million, the center will provide training for about 14,000 HSBC employees and senior managers in its Asia Pacific region.

"Located in the core of the Guangdong-Hong Kong-Macao Greater Bay Area, Nansha will play an important role in developing skilled employees," said Peter Wong Tung Shun, chief executive of Hong Kong and Shanghai Banking Corp.

The HSBC training center was one of the 29 key projects, with an overall investment of 45.97 billion yuan ($6.62 billion), that began construction in the Nansha district on Monday.

Thirty more projects, with and investment of more than 1.15 trillion yuan, were agreed to in Nansha, covering industries of modern agriculture, scientific innovation, urban infrastructure, modern medicine and health.