HSBC Bank (China) Co has obtained approval from the China Banking Regulatory Commission to set up a branch in Jinan as the first foreign bank to enter the capital city of eastern Shandong Province. Preparations for setting up the HSBC Jinan branch are scheduled to be complete within the year, after which it will apply for an operational license from CBRC. HSBC China has 74 outlets, including 17 branches and 57 sub-branches on the Chinese mainland.