Corporates plan Greater Bay push

Finance | Victor Zhong and Reuters 3 Nov 2021

International corporates are eyeing business opportunities in the Greater Bay Area, where three in four are planning to invest or expand in the next three years, according to a Hong Kong bank's survey.

More than half of the survey respondents expect the GBA to enjoy higher growth than the rest of China - rising to 74 percent among Malaysian businesses and 61 percent among Singaporean firms, reflecting strong optimism towards intra-regional opportunity, a Hongkong and Shanghai Banking Corporation's survey showed.

The survey was conducted in September 2021, covering more than 2,100 businesses from 10 markets, including the US, Canada, Mexico, the UK, France, Germany, the UAE, Malaysia, Singapore and Australia.

On what makes GBA attractive, 35 percent of respondents consider higher levels of technological advancement as the main factor, the survey said.

Meanwhile, Swiss investment bank Credit Suisse plans to accelerate its expansion in China, growing its team on the mainland by three times in the next five years, China chief executive Janice Hu said yesterday.

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