Dedicated Lending Facility of RMB USD 1.13 Billion to Support the New Economy start-ups

Innovation and new technology are at the heart of economic growth in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). With GBA+ Technology Fund, we will provide debt financing to high-growth companies in new economy sectors, especially those located in the Greater Bay Area. This dedicated credit facility of USD 1.13 billion is one of HSBC’s key initiatives in support of the GBA’s endeavor to become an international technology and innovation hub. It mainly focuses on helping innovative businesses and the new economy thrive across the Greater Bay Area with added benefits for hi-tech companies in Mainland China in general.

The fund will support businesses in sectors such as e-commerce, FinTech, robotics, biotechnology and healthcare technology in Mainland China, Hong Kong and Macau, in particular vibrant businesses in hi-tech and advanced manufacturing industries across the Pearl River Delta, by providing liquidity to corporate clients, including start-ups with sustainable business models, for further growth.

Apart from funding support, HSBC continues to adapt its solutions offering to meet the full range of banking needs of businesses at each stage of their growth journey, from FX trading and cross-border cash management to accessing the private and public capital markets. HSBC will also help to build these companies’ networks by connecting them with peers and industry thought leaders through exclusive events.

To better support the business ambitions of technology companies in the Greater Bay Area, HSBC Commercial Banking has set up dedicated teams in Guangdong and Hong Kong, and has been launching innovative service models that are designed to better fulfill high-growth companies’ unique financial needs. At the same time, the bank also holds innovation and technology summits in locations like Shenzhen, Hong Kong and Silicon Valley to help GBA businesses explore the growth opportunities.

“The Pearl River Delta is recognized as a global innovation hub. The launch of the GBA+ Technology Fund will help us finance innovative companies who are driving the transformation of Guangdong’s economy at a crucial stage in their growth. HSBC stands alongside entrepreneurs and businesses aspiring to be the next Unicorn.”

Neo Wang | CO-CHIEF EXECUTIVE AND HEAD OF COMMERCIAL BANKING, GUANGDONG, HSBC

HSBC is committed to supporting local entrepreneurs and innovative companies in the GBA. At present, over 80% of new business accounts opened in Hong Kong are for start-ups that have been incorporated for less than three years. The number of technology customers served by HSBC’s Commercial Banking business in Guangdong’s Pearl River Delta has more than doubled over the past three years.

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