January newsletter
Say hi to HyQ
Our new office tower in Qianhai, ‘HyQ’, opened on 22 January.
The 25-storey, 50,000 square-metre building is in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.
Dr Peter Wong, Chairman of The Hongkong and Shanghai Banking Corporation Limited, David Liao, our Co-CEO, Asia and Middle East, and Mark Wang, CEO, HSBC China, were joined by government officials at the ceremony to mark the official launch.
“At HSBC, we are committed to fostering the Greater Bay Area’s potential – and the HyQ project is a prime example of that commitment,” said David.
“Qianhai is at the forefront of policy innovation and financial liberalisation – and with the launch of HyQ, we are uniquely positioned to leverage the region’s strategic importance and drive economic development across the GBA.”
We’ve invested more than RMB4 billion (US$550 million) in HyQ, which reflects our confidence in the region’s potential as a powerhouse of growth and opportunity – and our long-term commitment to investing in mainland China.
The building – the first in Qianhai to operate entirely on renewable energy – earned a three-star rating from the China Green Building Label, and a Gold rating in the Leadership in Energy and Environmental Design.
A US$1bn boost for trade flows in emerging markets
We’ve signed a US$1 billion deal with the International Finance Corporation (IFC) to help banks in 20 countries access trade finance.
We’ll equally share the risk with IFC, a member of the World Bank, on a portfolio of trade-related assets held by banks in emerging markets in Africa, Asia, Latin America and the Middle East.
“Trade finance is the fuel that powers the global economic engine,” said Aditya Gahlaut, our Co-Head of Global Trade Solutions, Asia-Pacific.
“Our partnership with IFC will help ensure that trade finance gets to where it is needed… Reducing the trade finance gap and improving access to finance will be central to fostering growth and sustainability across Asia and the region’s supply chains.”
While global trade has grown by an average of 5% a year over the last three decades, the demand for trade finance far outpaces supply – especially in emerging markets.
The global trade finance gap was estimated to be US$2.5 trillion in 2022, according to the Asian Development Bank.
The US$1 billion facility has been set up under IFC’s Global Trade Liquidity Programme, which was established to address this growing gap in emerging markets.
We’re celebrating the Year of the Snake
Happy Lunar New Year, Chinese New Year, Spring Festival, Tet (in Vietnam) and Seollal (in Korea) to our shareholders across Asia and the rest of the world!
To mark the occasion, as well as our 160th anniversary in Hong Kong, we’re sponsoring the Lunar New Year fireworks display in Victoria Harbour, which takes place on the 2nd day of the celebrations on Thursday, 30 January.
“Lunar New Year is an important festival and is set to draw many visitors to Hong Kong this year,” says Luanne Lim, our CEO in Hong Kong.
“This March also marks HSBC's 160th anniversary, and we’ve curated a lineup of events to commemorate the milestone.
“Highlights include the upcoming Picasso exhibition at M+ museum, the Hong Kong Rugby Sevens tournament debuting at the Kai Tak Sports Park, the HSBC Global Investment Summit, and the HSBC Hong Kong Community Festival. Additionally, special celebrations will be held at our iconic head office in Central.
“We invite everyone to join the celebrations, reflect on our shared history, and look forward to the future together."
We've also issued special lai-see red packets featuring our famous bronze lions.
A limited-edition boxset shows the evolution of our head office buildings in the market when lined up side by side.
Lending a helping hand to the Hong Kong community
“A helping hand” can have different meanings. We reach out to offer support with our hands. We comfort someone by holding their hand. And at other times, we roll up our sleeves and get our hands dirty to help others get things done.
Over nearly four-and-a-half decades, we’ve supported 10,000+ charitable projects through The Hongkong Bank Foundation , whilst distributing more than HK$2.6 billion (US$334 million) in grants to address community needs.
In 2024, HSBC volunteers contributed close to 50,000 hours to a wide range of projects that inspire, educate and empower people from different walks of life.
These philanthropic efforts solidify our deep commitment to the welfare of the city we call home, and our determination to continue our work lending a helping hand to the community.