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Belt & Road brings great opportunities to financial industry, HSBC

May 16, 2018


BEIJING, May 16 (Xinhua) -- The construction of the Belt and Road has provided huge development opportunities for the financial industry. HSBC is willing to take advantage of its global network resources and years of experience in the capital market to strongly support the Belt and Road construction, said Zhang Wenjie, co-head of Global Banking at HSBC China, in a recent interview with Xinhua.

With the deepening of facilities connectivity and unimpeded trade among the countries and regions along the Belt and Road routes, Chinese enterprises and their partners see increasingly demand for “going global” financial services, including strategic design, business consulting, project financing, exchange rates risk prevention, and cash management. These demands have provided the financial industry with tremendous opportunities for development, according to Zhang.

The Asian Development Bank (ADB) estimated that by 2030, the infrastructure investment in Asia will reach 26 trillion U.S. dollars, indicating the huge financing needs.

“It has become one of HSBC's strategic priorities in recent years to support the construction of the Belt and Road and the development of the Chinese market. The HSBC has established the overseas service departments for Chinese enterprises in 25 markets that are closely associated with the Chinese market and have significant implications for business growth to provide Chinese enterprises “going global” with financial services,” said Zhang.

HSBC’s cross-border service advantages are in line with the financial needs under the Belt and Road Initiative. From a global perspective, HSBC has established a network covering 67 countries and regions in the world. Its branch offices in 50 countries and regions can provide RMB-related services. From the domestic perspective, HSBC has set up more than 170 outlets in more than 50 cities in China. The intensive networks at home and abroad can make HSBC an important bridge for the financial integration under the Belt and Road Initiative, Zhang added.

It is worth noting that in September 2017, as a joint green bond structure consultant and joint global coordinator, HSBC assisted ICBC in the issuance of the Belt and Road green climate bonds on the Luxembourg Stock Exchange.

In 2016, China Electric Power Equipment and Technology Co., Ltd. (CET) designed and built the largest power transmission project in Egypt. HSBC provided a variety of cross-border financial services for the project, which is expected to substantially increase the power output capacity of gas-fired power stations in the Nile Delta region and create approximately 7,000 jobs for the local community. (Edited by Hu Pingchao, hupingchao@xinhua.org)

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