HSBC
Egypt and the Suez Canal provide a crucial section in China’s Maritime Silk Road, connecting Asia with Europe and providing China with easier access to trade in the region.
HSBC is one of the largest multinational banks in Egypt, and thanks to its strong China connections, it provides a range of services to Chinese and local clients throughout the country.
HSBC support2 Chinese and Egyptian clients across the power and utilities sector, including financing and advisory services, and is the go-to bank for a large proportion of Chinese entities, government and non-government, in Egypt. As a result, HSBC was the obvious choice when China Electric Power Equipment and Technology – a wholly owned subsidiary of State Grid Corporation of China – needed financial backing to win its first contract in Egypt.
HSBC’s activity extends beyond Egypt, however. In Saudi Arabia, HSBC is a leading international bank with on-the-ground presence through the bank’s associates – HSBC Saudi Arabia and the Saudi British Bank. Saudi Arabia is China’s largest trading partner in the Middle East, which HSBC supports that trade through a range of products.
HSBC has played an important part in fuelling Chinese investment and business in the region, making it a worthy winner of best international bank for BRI in the Middle East and Africa.