Suggest you research the history. Does not matter what it's called. Originated from here, HQ in here. Owned by the shareholders not a country.
The Hong Kong and Shanghai Banking Corporation was founded by Scotsman Sir Thomas Sutherland in the then British colony of Hong Kong on 3 March 1865, and in Shanghai one month later, benefiting from the start of trading into China, including opium trading.
The Hongkong and Shanghai Banking Corporation Limited is a bank established and based in Hong Kong since 1865, when Hong Kong was a colony of the British Empire. It is the founding member of the HSBC Group and, since 1990, is a wholly owned subsidiary of the London-based HSBC Holdings P.L.C,.