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World CEOs optimistic about China's economic outlook
Updated: Mar 4, 2020
chinadaily.com.cn
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Noel Quinn, interim group chief executive of HSBC Holdings
Time and again, the Chinese people have demonstrated their resilience and ingenuity and I have no doubt these qualities will come to the fore again to keep the epidemic in check. We feel a deep responsibility to offer what help we can.
In mid-February, we learned medical supplies were urgently needed in hospitals and communities. We immediately donated from the HSBC Global Relief Fund to help meet the shortage, and we are mobilizing our global network to source more supplies for hospitals across Hubei and other provinces in the coming weeks.
Our teams in China are working around the clock to provide a continuous service to our clients and customers. For example, to help small and micro businesses get through this difficult time, we are increasing lending quotas and provided targeted support to specific sectors impacted by the virus.
We expect the virus to produce a slowdown in economic activity but beyond that, prospects for growth are good. HSBC is moving more and more resources to China, and to Asia as a whole.
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