The rollout of the giant Regional Comprehensive Economic Partnership (RCEP), a new trade grouping that stretches from Japan on the fringes of the Arctic to New Zealand on the edge of the Antarctic, is driving optimism on long-term business prospects among enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
Banks in Hong Kong are optimistic on their financial performance in 2022 with higher interest rates likely to improve margins, global business consultancy KPMG said in its latest report. Non-interest revenue should also increase as initiatives such as the Cross-Boundary Wealth Management Connect scheme offer new growth opportunities. Paul McSheaffrey, Partner, Financial Services for KPMG China, extracts the key trends, opportunities and challenges identified in the KPMG Hong Kong Banking Outlook 2022 report.
Innovation and technology is taking the world into a new era, opening up fresh opportunities in the upcoming economic powerhouse: Guangdong-Hong Kong-Macao Greater Bay Area (GBA). For companies setting their sights on this vibrant region, a range of support is at hand in Hong Kong. Among them is global banking giant HSBC’s US$1.13 billion “GBA+ Technology Fund”, and US$700 million “GBA+ Healthcare Fund”, which provide flexible financing support for new-economy companies in the region.
When asking what comes next, it is always a good idea to look at what came before. This year’s Asian Financial Forum (AFF) began on Monday, 10 January under the theme “Navigating the Next Normal Towards a Sustainable Future” and began with a plenary session where business leaders from across the world laid out their vision.
Start-ups come in all shapes and sizes and operate across every conceivable industry, and so have a plethora of needs to take themselves forward. Surveys conducted among entrepreneurs show they do indeed have some common needs, including streamlined financing and business management consulting services.
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