Chinese companies “going global” underscores the country’s accelerating role as a global investor, and HSBC (0005) will continue to invest in China, its chief executive, Georges Elhedery, said.
Speaking at the China Development Forum on Sunday, Elhedery said these firms are facing new needs and challenges in their journey to ‘go global and financial institutions should keep up with them, as the pattern of their journey has shifted from primarily exporting products to actively building overseas operations.
To support this, banks need to build strong international networks and offer customised, one-stop financial solutions, he argued.
As one of the largest investors among international financial institutions, HSBC will continue to invest in China, supporting international companies to embrace opportunities onshore, and Chinese companies to expand offshore, Elhedery said.
Elhedery pointed out that accelerating efforts to enhance Hong Kong’s position as an international financial center and strengthen its role as an offshore yuan hub would play an important role.
Further enhancement in mutual connectivity between China and Hong Kong would allow international investors to have more convenient and efficient risk-management tools, he added.
