The HSBC Building (also known as the Municipal Government Building) is a six-floor neo-classical building in

the Bund The Bund is a waterfront area and a protected historical district in central Shanghai. The area centers on a section of Zhongshan Road (East Zhongshan Road No.1) within the former Shanghai International Settlement, which runs along the wester ...

area of

Shanghai Shanghai, Shanghainese: , Standard Chinese pronunciation: is a direct-administered municipality and the most populous urban area in China. The city is located on the Chinese shoreline on the southern estuary of the Yangtze River, with the ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

. It served as the headquarters of the

branch of

The Hongkong and Shanghai Banking Corporation The Hongkong and Shanghai Banking Corporation Limited (), commonly abbreviated as HSBC and formerly known as HongkongBank (; styled ''Wayfoong'' by the bank), is the Hong Kong–based Asia-Pacific subsidiary of the HSBC banking group, for whi ...

from 1923 to 1955, and currently houses the Shanghai Pudong Development Bank (SPD Bank). The building is situated at number 12, the Bund. Designed by the British architecture firm Palmer & Turner Architects and Surveyors, construction of the building lasted from 5 May 1921 to 23 June 1923.

Layout

The HSBC Building has been called "the most luxurious building from the Suez Canal to the Bering Strait". The building has a floor area of , and was, at the time, the largest bank building in the

Far East The Far East is the geographical region that encompasses the easternmost portion of the Asian continent, including North Asia, North, East Asia, East and Southeast Asia. South Asia is sometimes also included in the definition of the term. In mod ...

, and second largest in the world, after the

Bank of Scotland The Bank of Scotland plc (Scottish Gaelic: ''Banca na h-Alba'') is a commercial bank, commercial and clearing (finance), clearing bank based in Edinburgh, Scotland, and is part of the Lloyds Banking Group. The bank was established by the Par ...

building in

Edinburgh Edinburgh is the capital city of Scotland and one of its 32 Council areas of Scotland, council areas. The city is located in southeast Scotland and is bounded to the north by the Firth of Forth and to the south by the Pentland Hills. Edinburgh ...

. The building exterior adopted a strict

neo-classicist Neoclassicism, also spelled Neo-classicism, emerged as a Western cultural movement in the decorative and visual arts, literature, theatre, music, and architecture that drew inspiration from the art and culture of classical antiquity. Neoclassici ...

design, with a tripartite vertical and horizontal division. In the centre is a dome, the base decorated with a triangular structure in imitation of Greek temples. Below that are six Ionic columns penetrating from the second to the fourth storey. The main structure is five storeys, the central section seven storeys, with one and a half storey for the basement. The main structure has a steel lattice with brick filling, and a granite exterior. The interior was luxuriously decorated, using materials such as

marble Marble is a metamorphic rock consisting of carbonate minerals (most commonly calcite (CaCO3) or Dolomite (mineral), dolomite (CaMg(CO3)2) that have recrystallized under the influence of heat and pressure. It has a crystalline texture, and is ty ...

and

monel Monel is a group of alloys of nickel (from 52 to 68%) and copper, with small amounts of iron, manganese, carbon, and silicon. Monel is not a cupronickel alloy because it has less than 60% copper. Stronger than pure nickel, Monel alloys are res ...

. The whole building was fitted with heating and air-conditioning. The main trading hall has four columns hewn from whole blocks of marble, which was at the time unique in Asia. Behind the main building is a subsidiary building which houses bank offices, safes, and vaults.

History

On 4 March 1865,

HSBC HSBC Holdings plc ( zh, t_hk=滙豐; initialism from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business li ...

opened its

branch on the ground floor of the Central Hotel (now Peace Hotel) on the corner of

with

Nanjing Road Nanjing Road (; Shanghainese: ''Noecin Lu'') is a road in Shanghai, the eastern part of which is the main shopping district of Shanghai. It is one of the world's busiest shopping streets, along with Fifth Avenue, Oxford Street, Orchard Road, T ...

. By 1874, HSBC's business had grown so much that the existing premises was becoming cramped. The bank then purchased the Foreign Club, a three-storey building at number 12, the Bund, south of the

Customs House A custom house or customs house was traditionally a building housing the offices for a jurisdictional government whose officials oversaw the functions associated with importing and exporting goods into and out of a country, such as collecting ...

, for 60,000

tael Tael ( ),"Tael" entry
at the

feng shui Feng shui ( or ), sometimes called Chinese geomancy, is a traditional form of geomancy that originated in ancient China and claims to use energy forces to harmonize individuals with their surrounding environment. The term ''feng shui'' mean ...

masters to select the time and direction of the first excavation. In accordance with Chinese tradition, coins from around the world were buried in the foundations. Specially minted coins were placed in dark recesses of the building to ward off spirits. The construction took 25 months, and the completed building occupied 1.3 hectares, with an area of 23,415 m². The architect's firm, Palmer & Turner, also designed numerous other buildings on

including the Yokohama Specie Building, Yangtze Insurance Building, and Bank of China Building. During the

Second World War World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...

, the HSBC building was occupied by the Japanese

Yokohama Specie Bank The was a Japanese bank founded in Yokohama in 1880, which dominated the Japanese market for trade finance in subsequent decades. It has been described as a "quasi-governmental exchange bank that was the overseas financial agent of the Japanese ...

. HSBC moved back at the end of the war. The

Communists Communism () is a sociopolitical, philosophical, and economic ideology within the socialist movement, whose goal is the creation of a communist society, a socioeconomic order centered on common ownership of the means of production, d ...

took over Shanghai in 1949. HSBC continued to operate in the relative freedom of the early years of the People's Republic. However, in 1955 the political situation led the bank to scale down its operations in Shanghai. The building was handed over to the government, and HSBC rented separate offices nearby. Later in that year, the Shanghai Municipal Government moved into the building. The building's name was changed to "The People's Government of the Municipality of Shanghai Building", or "Municipal Government Building" for short. The subsidiary building housed the Municipal Archives from 1956. In 1990, the Municipal Government began moving civic institutions out of the Bund in favour of commercial institutions. HSBC made contact with the Municipal Government on repurchasing the building, but negotiations failed due to price reasons. In 1995, the Municipal Government moved out of the building, and the SPD Bank obtained the lease to the building. During renovations, spectacular murals were uncovered in the building. HSBC's Chinese office is currently headquartered at HSBC Building,

Shanghai IFC Shanghai International Finance Center, usually abbreviated as Shanghai IFC, is a commercial building complex and a shopping center (branded Shanghai IFC mall) in Shanghai. It incorporates two tower blocks at (south tower) and (north tower) h ...

Bronze lions

The bank commissioned two bronze lions from the United Kingdom at the time of construction, to be placed outside the front doors flanking the entrance staircase. They were cast by J W Singer & Sons in the English town of Frome, to a design by Henry Poole RA. One of the lions is depicted roaring, to symbolise protection, the other is calm, and symbolises security. Affectionately nicknamed Stephen and Stitt (after A G Stephen, once Manager Shanghai and the driving force behind the construction of the building, and by then the Bank's Chief Manager; and G H Stitt, Stephen's successor as Manager Shanghai, and the incumbent when the building was opened on 23 June 1923). An in-joke: Stephen's was said to be the louder character, Stitt the quieter man. These lions were the inspiration for a second and much larger pair to a completely new design by Shanghai-based British sculptor W W Wagstaff that were commissioned for the bank's new Headquarters in Hong Kong, opened in 1935. This second pair of lions was cast in Shanghai. During the wartime occupation of Shanghai, the lions were removed by the Japanese to be melted down for their valuable bronze, but they escaped this fate and were restored after the end of the war. They were removed once again in 1966, during the

Cultural Revolution The Cultural Revolution, formally known as the Great Proletarian Cultural Revolution, was a Social movement, sociopolitical movement in the China, People's Republic of China (PRC). It was launched by Mao Zedong in 1966 and lasted until his de ...

. The Shanghai Artefact Administration Board stored the lions in the warehouse of the Shanghai Comedy Troupe. In 1980, they were handed over to the

Shanghai Museum The Shanghai Museum is a municipal public museum of ancient Chinese art, situated on the People's Square in the Huangpu District, Shanghai, Huangpu District of Shanghai, China. It is funded by thShanghai Municipal Culture and Tourism Bureau Reb ...

where they are on display today. In 1997, when the SPD Bank moved into the building, replicas were made and placed in front of the building.

Dome mosaics

Near the ceiling of the octagonal entrance hall of the bank building were originally eight

mosaic A mosaic () is a pattern or image made of small regular or irregular pieces of colored stone, glass or ceramic, held in place by plaster/Mortar (masonry), mortar, and covering a surface. Mosaics are often used as floor and wall decoration, and ...

murals. The dome was decorated with frescos depicting the twelve signs of the zodiac, eight geometric shapes and eight lions, as well Apollo, Luna and Fortuna. An enterprising architect had the mosaics covered over in stucco and paint to save them in 1956. When the

Soviet Navy The Soviet Navy was the naval warfare Military, uniform service branch of the Soviet Armed Forces. Often referred to as the Red Fleet, the Soviet Navy made up a large part of the Soviet Union's strategic planning in the event of a conflict with t ...

decided to visit Shanghai in next year, the building was selected as a guest house, but the mosaics became the controversy, some people criticized these mosaics were "too commercialized" and "too Westernized" and thus suggested to destruct them. The president of the Shanghai Civil Architecture Institute, Chen Zhi (陈植), reviewed the mosaics and opposed to destruct, instead he proposed to cover them up, and his proposal was approved by government. In 1997, the mosaics were rediscovered, renovations uncovered them. The SPD Bank then funded the restoration, but changed the HSBC emblems in the paintings to the SPD Bank emblem and Magnolia denudata. The eight murals depicted eight cities in which HSBC had branches. Each fresco featured a principal mythological figure, supported by personifications of local rivers and the city, with city scenery in the background. *

Mazu Mazu or Matsu is a sea goddess in Chinese folk religion, Chinese Buddhism, Confucianism, and Taoism. She is also known by several other names and titles. Mazu is the deified form of Lin Moniang (), a shamaness from Fujian who is said to ...

and two figures representing the

Yellow River The Yellow River, also known as Huanghe, is the second-longest river in China and the List of rivers by length, sixth-longest river system on Earth, with an estimated length of and a Drainage basin, watershed of . Beginning in the Bayan H ...

and

Yangtze River The Yangtze or Yangzi ( or ) is the longest river in Eurasia and the third-longest in the world. It rises at Jari Hill in the Tanggula Mountains of the Tibetan Plateau and flows including Dam Qu River the longest source of the Yangtze, i ...

in front of the scenery of the HSBC building and the old

, on the base have the merchant ensigns of the Qing DynastyChinese Imperial Nautical Flags
FOTW. Retrieved 15 March 2021. and the United Kingdom. *

Hong Kong Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...

: A goddess wearing a mural crown and the Union Jack, along with two figures representing the

Pearl River The Pearl River (, or ) is an extensive river system in southern China. "Pearl River" is often also used as a catch-all for the watersheds of the Pearl tributaries within Guangdong, specifically the Xi ('west'), Bei ('north'), and Dong ( ...

and

South China Sea The South China Sea is a marginal sea of the Western Pacific Ocean. It is bounded in the north by South China, in the west by the Indochinese Peninsula, in the east by the islands of Taiwan island, Taiwan and northwestern Philippines (mainly Luz ...

carrying a junk and a book writing MDCCCXLII, all in front of the Hong Kong Island, on the base have the flags of the

Governor of Hong Kong The governor of Hong Kong was the representative of the United Kingdom, British The Crown, Crown in British Hong Kong, Hong Kong from 1843 to 1997. In this capacity, the governor was president of the Executive Council of Hong Kong, Executiv ...

and the Lord High Admiral. *

Tokyo Tokyo, officially the Tokyo Metropolis, is the capital of Japan, capital and List of cities in Japan, most populous city in Japan. With a population of over 14 million in the city proper in 2023, it is List of largest cities, one of the most ...

: A goddess stand for "Studying" and two figures representing "Progressive" (carrying a shield with the

Imperial Seal of Japan The Imperial Seal of Japan or National Seal of Japan, also called the , or , is the ''Mon (emblem), mon'' used by the Emperor of Japan and members of the Imperial House of Japan, Imperial Family. It is one of the national seals of Japan and is ...

) and "Science" in front of the

Tokyo Imperial Palace is the main residence of the Emperor of Japan. It is a large park-like area located in the Chiyoda, Chiyoda, Tokyo, Chiyoda district of the Chiyoda, Tokyo, Chiyoda ward of Tokyo and contains several buildings including the where the Emperor h ...

, government offices in

Kasumigaseki Kasumigaseki (霞が関, 霞ヶ関 or 霞ケ関) is a district in Chiyoda, Tokyo, Chiyoda, Tokyo. Most government ministries are located in the neighbourhood, making its name a metonym for the Civil service of Japan, Japanese bureaucracy, while Nag ...

and

Mount Fuji is an active stratovolcano located on the Japanese island of Honshu, with a summit elevation of . It is the highest mountain in Japan, the second-highest volcano on any Asian island (after Mount Kerinci on the Indonesian island of Sumatra), a ...

, on the base have the national and imperial flags of Japan. *

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

Britannia The image of Britannia () is the national personification of United Kingdom, Britain as a helmeted female warrior holding a trident and shield. An image first used by the Romans in classical antiquity, the Latin was the name variously appli ...

, the patron saint of London carrying the

coat of arms of the City of London A coat is typically an outer clothing, garment for the upper body, worn by any gender for warmth or fashion. Coats typically have long sleeves and are open down the front, and closing by means of Button (clothing), buttons, zippers, Hook-and-loo ...

, and the figure representing the

River Thames The River Thames ( ), known alternatively in parts as the The Isis, River Isis, is a river that flows through southern England including London. At , it is the longest river entirely in England and the Longest rivers of the United Kingdom, s ...

in front of the scenery of London over the River Thames featuring the

Westminster Palace The Palace of Westminster is the meeting place of the Parliament of the United Kingdom and is located in London, England. It is commonly called the Houses of Parliament after the House of Commons of the United Kingdom, House of Commons and the ...

and

St Paul's Cathedral St Paul's Cathedral, formally the Cathedral Church of St Paul the Apostle, is an Anglican cathedral in London, England, the seat of the Bishop of London. The cathedral serves as the mother church of the Diocese of London in the Church of Engl ...

, on the base have the royal arms of England, Scotland and Ireland. *

New York New York most commonly refers to: * New York (state), a state in the northeastern United States * New York City, the most populous city in the United States, located in the state of New York New York may also refer to: Places United Kingdom * ...

Statue of Liberty The Statue of Liberty (''Liberty Enlightening the World''; ) is a colossal neoclassical sculpture on Liberty Island in New York Harbor, within New York City. The copper-clad statue, a gift to the United States from the people of French Thir ...

Hermes Hermes (; ) is an Olympian deity in ancient Greek religion and mythology considered the herald of the gods. He is also widely considered the protector of human heralds, travelers, thieves, merchants, and orators. He is able to move quic ...

and Columbia in front of the

Manhattan Manhattan ( ) is the most densely populated and geographically smallest of the Boroughs of New York City, five boroughs of New York City. Coextensive with New York County, Manhattan is the County statistics of the United States#Smallest, larg ...

, on the base have the American flag, the arms of New York City and a white-headed eagle bearing an olive branch and arrows. *

Bangkok Bangkok, officially known in Thai language, Thai as Krung Thep Maha Nakhon and colloquially as Krung Thep, is the capital and most populous city of Thailand. The city occupies in the Chao Phraya River delta in central Thailand and has an estim ...

: The goddess Fertility and figures representing "Work" and "Harvest" in front of the

Chao Phraya River The Chao Phraya River is the major river in Thailand, with its low alluvial plain forming the centre of the country. It flows through Bangkok and then into the Gulf of Thailand. Etymology Written evidence of the river being referred to by the ...

and the

Grand Palace The Grand Palace (, Royal Institute of Thailand. (2011). ''How to read and how to write.'' (20th Edition). Bangkok: Royal Institute of Thailand. . ) is a complex of buildings at the heart of Bangkok, Thailand. The palace has been the officia ...

, on the base have the

national flag A national flag is a flag that represents and national symbol, symbolizes a given nation. It is Fly (flag), flown by the government of that nation, but can also be flown by its citizens. A national flag is typically designed with specific meanin ...

and naval ensign of Thailand, and the national and royal arms of Thailand. *

Paris Paris () is the Capital city, capital and List of communes in France with over 20,000 inhabitants, largest city of France. With an estimated population of 2,048,472 residents in January 2025 in an area of more than , Paris is the List of ci ...

Marianne Marianne () has been the national personification of the French Republic since the French Revolution, as a personification of liberty, equality, fraternity and reason, as well as a portrayal of the Goddess of Liberty. Marianne is displayed i ...

carrying the motto LIBERTÉ, ÉGALITÉ, FRATERNITÉ, along with Nike and the patron saint carrying the arms of France in front of the

Seine The Seine ( , ) is a river in northern France. Its drainage basin is in the Paris Basin (a geological relative lowland) covering most of northern France. It rises at Source-Seine, northwest of Dijon in northeastern France in the Langres plat ...

and

Île de la Cité The Île de la Cité (; English: City Island, "Island of the City") is one of the two natural islands on the Seine River (alongside, Île Saint-Louis) in central Paris. It spans of land. In the 4th century, it was the site of the fortress of ...

, on the base have two fleurs-de-lys and two coats of arms of Paris. *

Calcutta Kolkata, also known as Calcutta (List of renamed places in India#West Bengal, its official name until 2001), is the capital and largest city of the Indian States and union territories of India, state of West Bengal. It lies on the eastern ba ...

Kali Kali (; , ), also called Kalika, is a major goddess in Hinduism, primarily associated with time, death and destruction. Kali is also connected with transcendental knowledge and is the first of the ten Mahavidyas, a group of goddesses who p ...

, a figure representing Ganges and a figure carrying the arms of Calcutta in front of the scenery of Calcutta over the

Ganges The Ganges ( ; in India: Ganga, ; in Bangladesh: Padma, ). "The Ganges Basin, known in India as the Ganga and in Bangladesh as the Padma, is an international which goes through India, Bangladesh, Nepal and China." is a trans-boundary rive ...

, on the base have lions and little egrets.

References

External links