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(BOBBY YIP/REUTERS)

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HSBC strikes canny deal with sale of Chinese insurer

HSBC has proved a canny seller of Chinese assets. The emerging market lender announced on Dec. 5 it had sold 16 per cent of Ping An at a premium to the market price. That’s impressive: Rivals Bank of America and Goldman Sachs accepted discounts when offloading their Chinese bank shareholdings. The positive reaction should buy HSBC some time to explain its broader China strategy.