StanChart sees China-Asean growth accelerating as ‘China Plus N’ strategy takes hold
Bank sees growing use of the renminbi for payments, financing and liquidity management as Chinese companies expand across the region
Add BT as a preferred source
[SINGAPORE] Standard Chartered (StanChart) expects growth in its China-Asean business to accelerate over the next three years, as more Chinese companies continue to deepen their presence in South-east Asia.
This follows strong growth in recent years, with the lender’s income from its China-Asean corridor rising at a compound annual growth rate of 25 per cent between 2022 and 2025, making it one of the bank’s fastest-growing China corridors.
Growth over the next three years is likely to outpace the previous period, said Chow Wan Thonh, its head of coverage for Singapore and Asean.
TRENDING NOW
Eu Yan Sang family members sell Bishopsgate bungalow for S$40 million
Punggol East riverside plots totalling 25 hectares earmarked for housing, could yield over 8,000 new homes
Asia-Pacific aviation: is up really the only way?
52 Singaporeans arrested in China over suspected involvement in illegal pyramid scheme
