Following aggressive moves of HSBC Group and Citigroup Inc., Standard Chartered Group announced business expansion plans by selectively acquiring strategic stakes from Chinese Mainland banks and registered subsidiaries in the country.   Standard Chartered said that since the bank is still waiting for approval to launch a yuan retail banking business, it would still focus on corporate banking. Its senior management said that retail banking business has seen positive growth particularly financial planning and business of mid-size as well as small companies. As for its corporate banking business, income is boosted by the growth of administrative fees from overseas currency transactions and other product sales.   By the end of October 2006, Standard Chartered had obtained US$500 million QDII quotas and the group planned to establish subsidiaries to launch yuan retail business upon regulatory approval. The group said that it would prioritize Zhujiang Delta as the first location to launch its yuan business. Given the right opportunity, the group also plans to acquire stakes in local banks as a part of the business expansion strategy.   Standard Chartered Group CEO E. Mervin Davies says that the bank plans to register a subsidiary on the Chinese Mainland and launch private banking business. The group will place its focus on developing mortgages, credit card, cash management, securities, capital market and wealth management businesses, with the aim of achieving stable growth in these areas. Currently, Standard Chartered has 20 branches in 14 cities and will open branches in Shanghai as well as Shenzhen in 2007, with the aim of expanding this number to 44 in the next 18 months.   A research report released by BOC International (China) Limited on November 9 said that the second half of 2006 will see stable internal growth for Standard Chartered in the range of approximately 10 to 20%.   Standard Chartered is joining a number of overseas financial giants, such as HSBC and Citigroup, which are increasing their presence China. According to a recent report in the China Daily, the bank has spent US$40 million to acquire four floors of a Pudong office building to serve as its future personal banking call center on the Chinese Mainland, as it will relocate its country headquarters, Shanghai branch and related functions in the building.   All three financial institutions have purchased naming rights to office towers in Lujiazui after renting large amounts of space, as part of the efforts to sharpen their profiles in the Mainland. China Securities Journal