StanChart sees China-Asean growth accelerating as ‘China Plus N’ strategy takes hold

[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.