HSBC to Expand Investment in China Asset Management Business and Build Green Finance & Bond Teams in China in 2023
14th July 2023 | Hong Kong
HSBC will be expanding investment in HSBC asset management business in China, and to build HSBC green finance & bond teams in China. Earlier in July 2023, HSBC was buying the remaining 51% of China fund management joint venture HSBC Jintrust Fund Management ($7.7 billion AUM, Assets under Management) from Shanxi Trust, with the $138 million (CNY 1 billion) deal representing 31% of shareholding currently undergoing a public auction that has began on 29th June 2023. HSBC has the first right to the auction purchase. In June 2023, HSBC launched a new $3 billion HSBC New Economy Fund to finance start-ups & tech-led businesses in Hong Kong & Mainland China, expanding lending & venture debt to climate tech, industrials, consumer, technology, healthcare & life sciences to support entrepreneurs & innovative companies. More info below.
“ HSBC to Expand Investment in China Asset Management Business and Build Green Finance & Bond Teams in China in 2023 “
HSBC to Buy Remaining 51% of China Fund Management Joint Venture $7.7 Billion HSBC Jintrust Fund Management from Shanxi Trust, $138 Million Deal Subject to Public Auction Beginning 29th June 2023
7th July 2023 – HSBC is buying the remaining 51% of China fund management joint venture HSBC Jintrust Fund Management ($7.7 billion AUM, Assets under Management) from Shanxi Trust, with the $138 million (CNY 1 billion) deal representing 31% of shareholding currently undergoing a public auction that has began on 29th June 2023. HSBC has the first right to the auction purchase.
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