HSBC launched a new USD700 million debt financing scheme to support fast-growing, early-stage healthcare companies in the Guangdong-Hong Kong-Macao Greater Bay Area (“GBA”). This latest initiative reinforces HSBC’s on-going strategic commitment to helping entrepreneurs capture new opportunities in the GBA, with added benefits for healthcare companies in Mainland China in general.
The dedicated Fund is customised for the healthcare sector, focusing on companies in the sub-sectors of healthcare tech, healthcare services, pharmaceutical, medical device, contract services and third party medical institutions. It aims to provide financing to support the scaling up of companies with viable business models, primarily at the pre-profit stage.
Since June 2019, HSBC has already financed over 50 new economy companies through the HSBC GBA+ Technology Fund, which was recently upsized from USD880 million to USD1.13 billion to accommodate strong customer demand.
Including the GBA+ Healthcare Fund, HSBC has earmarked over USD 1.8 billion in facilities for new economy companies in the vibrant city cluster.