The 2025 China Development Forum, organized by the Development Research Center of the State Council and hosted by the China Development Research Foundation, commenced this morning (March 23) in Beijing. Georges Elhedery, CEO of HSBC Group, stated during the event that the ongoing economic transformation in China is creating numerous new development opportunities.
He believes that China will continue to drive global economic growth in 2025 and the following five years.
Elhedery pointed out that over the past 25 years, supportive government policies, strong investment drives, and an increasingly open economic system have collectively propelled significant growth in the Chinese economy. At the same time, the private economy and international enterprises, including those in the financial sector, have played crucial roles. The current economic transformation in China is generating new growth momentum in areas such as electric vehicles, renewable energy, and biotechnology, adding value to economic development and providing new growth points for exports.
He anticipates that, in the long run, China will remain a continuously prosperous economy at the core of global trade and investment, leading in innovative development.
Currently, HSBC Group's services in mainland China cover various areas, including banking, insurance (including insurance brokerage), funds, securities, and fintech, making it the largest foreign bank by asset size in the region.
Related News:
HSBC pre-tax profit climbs 6.6% to US$32.2 bn
John Lee meets Wang Weizhong, Governor of Guangdong Province for GBA-related issue
Comment