HSBC to invest more than 3 billion yuan in China operation in five-year until 2025, said chief executive
HSBC to invest more than 3 billion yuan in China operation in five-year until 2025, said chief executive

HSBC to invest more than 3 billion yuan in China operation in five-year until 2025, said chief executive

 

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HSBC Holdings plans to invest more than 3 billion yuan ($448 million) in its China operations over a five-year period running until 2025, Chief Executive Noel Quinn said in an interview with China’s official Xinhua news agency, saying he sees challenges for the economy but also opportunities for investment.

While COVID-19 cases in Shanghai had started to fall after a two-month lockdown, the challenges confronting the Chinese economy should not be “understated”, he said

“We do expect some market volatility to continue in the short term,” he said. “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.”

HSBC now owns 90% of its Chinese securities joint venture.