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June 1, 2022

HSBC to invest more than $448m in China operations

HSBC is planning to invest more than $448m (CNY 3bn) in its China operations, Reuters reported citing Chinese news agency Xinhua.

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How attractive are current investment opportunities in Europe?

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HSBC chief executive Noel Quinn told Xinhua that although there are challenges for the economy, he also sees opportunities for investments in the country.

The news comes a month after Chinese insurance giant Ping An, who is the British lender’s largest investor, urged the bank to look at ways to boost returns.

Ping An’s suggestions included a proposal to separate the bank’s Asia operations, a source with knowledge of the matter told Reuters.

HSBC, which is by far Europe’s biggest bank by total assets, earned just over half of its revenue and about two-thirds of its reported pretax profit last year from Asia.

Quinn told Xinhua that the bank plans to carry out the Chinese investment over a five-year period running until 2025. He did not specify the divisions that would receive the cash.

Quinn said in the interview: “We do expect some market volatility to continue in the short term.

“But we also see in China an economy that has demonstrated its resilience and that still presents long-term growth potential and attractive opportunities to foreign firms and investors.”

A spokesperson for HSBC confirmed Reuters about Quinn’s interview with Xinhua.

HSBC is said to be one of the largest investors among foreign banks in mainland China with a branch network of over 150 outlets across 50 cities.

The bank has around 7,000 staff in the country.  

Quinn, who has been at the helm of HSBC for more than two years, has been accelerating the bank’s focus on Asia by placing global executives in the region and beefing up investments in the wealth management business.

Last week, it was reported that HSBC’s global private banking division is preparing to hire about 100 new employees in China this year.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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