By Louis Goss The chairman of HSBC’s largest shareholder Ping An has said the Chinese insurer would support plans to spin off HSBC’s Asian business in warning the bank’s global business mode is “no long competitive”. Ping An chairman Huang Yong warned HSBC is lagging behind its peers, as he called on the bank to “reallocate more resources” away from Europe and America towards its more profitable Asian business. In the first half of 2022, HSBC’s Asia business contributed 68.7 per cent of the bank’s global profits. The Ping An chairman warned the “weaknesses, costs and risks” associated with the…