HSBC to pump $3 billion into Greater China innovation economy
The bank has expanded its Greater China tech lending facility to support regional innovation alongside the rollout of debut venture debt capabilities.
ValVades
June 06, 2023
HSBC has announced increased support for Hong Kong and mainland China’s “innovation economy” by extending its start-up and specialist tech lending facility from $1.8 billion to $3 billion.
The expanded capacity will offer lending to firms based in Hong Kong and mainland China that are active in the climate tech, industrials, consumer, technology, healthcare and life science sectors. It follows initial launch of a similar facility in 2019 under two separate financing schemes aimed at supporting technology and healthcare ventures in the Guangdong-Hong Kong-Macao Greater Bay Area GBA.
The enlarged and renamed HSBC New Economy Fund aims to support businesses throughout the full breadth of the...
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