In case you haven’t noticed their ads, HSBC is bullish on the Greater Bay Area. Now, the bank believes that the US-China trade war could actually speed the region’s development.
This week HSBC held a Greater Bay Area Exchange Forum in Hong Kong, at which George Leung Siu-kay, chief executive for Asia, was upbeat. It does not seem that trade tensions between the US and China will be resolved quickly and it could “take a long time before everything is back to normal”, he said. As a result, the Greater Bay Area initiative will be even more important a priority for the country, he said.
His view was echoed by Helen Wong, HSBC’s chief executive for Greater China. “The Greater Bay Area as a whole can start to function as an integrated supply chain,” Wong said. “What might this look like? Research developed by a Hong Kong start-up working in partnership with a local university is used to create a prototype in Shenzhen. Once refined in the lab and financed by a private equity investor in Hong Kong, a final prototype is mass produced in a Dongguan factory. The finished products are then shipped domestically and overseas from Guangzhou.”