HSBC launches lending facility for startups in China's Pearl River Delta

Hong Kong

HSBC has launched a US$290 million lending facility aimed at technology startups and other new industries in China's Pearl River Delta region, intensifying the battle for a slice of a business that is growing despite a slowing economy.

Showered with money from private investors over the last few years, the promising technology startups in China, the world's second-largest economy, have shunned traditional lenders, seeking to instead raise funds directly from equity investors.