HSBC said it will expand retail banking in China, with special focus on Beijing, Shanghai, Shenzhen and Guangzhou, in preparation for the opening of the country's banking sector to full foreign competition by the end of the year, The Wall Street Journal reported. "Network expansion is a key part of our organic growth. By the end of this year, we expect to have over 30 outlets, including new branches and sub-branches," said the paper, quoted Richard Yorke, chief executive of HSBC China, as saying. The Hongkong & Shanghai Banking Corp. division has 24 outlets in mainland China, including 12 branches and 12 sub-branches, and has received the Chinese government's approval to open one branch each in the cities of Hangzhou and Xian. Mr. Yorke said the bank plans to recruit about 2,000 staff members before the end of 2007 to support its expansion in China.