Home Capital China Focus

China presses ahead with GBA strategy despite trade war and slowdown

Goola Warden
Goola Warden8/23/2019 06:30 AM GMT+08  • 10 min read
China presses ahead with GBA strategy despite trade war and slowdown
SINGAPORE (Aug 26): With or without the ongoing US-China trade war and a global economic slowdown, the Middle Kingdom continues to press ahead with its Greater Bay Area plans, which would eventually lead to the area gaining developed-market status. Banks,
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Aug 26): With or without the ongoing US-China trade war and a global economic slowdown, the Middle Kingdom continues to press ahead with its Greater Bay Area plans, which would eventually lead to the area gaining developed-market status. Banks, developers and tech companies are all on board. At least three listed companies — two in Singapore and one in Hong Kong — have articulated a GBA strategy that should reap earnings for shareholders.

In June this year, HSBC Holdings launched a US$880 million ($1.2 billion) fund focused on supporting fast-growing technology companies in the GBA. Guangdong alone is home to more than 45,000 high-tech firms, the banking behemoth says.

“HSBC’s GBA+Technology Fund will provide senior debt financing to high-growth companies in sectors including e-commerce, fintech, robotics, biotech and healthcare technology. These firms will have demonstrated the viability of their business model and will likely have received backing from venture capital or private equity firms, but will still be at an early stage in their development,” HSBC says in an announcement on June 11. The new fund will focus on innovative companies in GBA in particular, as well as being available to firms throughout mainland China.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now