HSBC has demonstrated robust growth and innovation. It expanded its wealth-management offerings and enhancing support for high-tech and green financing. Its local head is Daniel Chan.
The bank has been rapidly expanding its wealth-management business in China. Following the launch of the Cross-Boundary Wealth Management Connect scheme 2.0, HSBC swiftly expanded its product offerings. Currently, HSBC provides around 400 products, including over 200 products for Southbound investors.
As the Greater Bay Area develops, HSBC’s main customer base has shifted from traditional manufacturing companies to high-tech and advanced manufacturing firms. These companies increasingly demand innovative green financing solutions. In response, HSBC has increased its GBA Sustainability Fund from an initial $5 billion to $9 billion.
To support the fast-growing cross-border e-commerce sector in the Greater Bay Area, HSBC continued to innovate in its transaction banking solutions. The bank has partnered with Dowsure Technologies to offer data-driven trade finance for eCommerce merchants, and rolled out HSBC ECom Direct, an instant payment solution that allow sellers to collect sales receivable from international e-commerce marketplaces directly and automatically.
Additionally, the bank has provided a seamless banking experience for businesses in the region through HSBC GBA Business 5 Connects - a one-stop solution that streamlines account management, payment transfers, credit allocation, service access and trade finance.