For the last three years HSBC has examined how corporate treasurers and senior managers are reshaping their supply chain and working capital strategies in response to global economic changes, sustainability policies and digital enhancements.
This year, we’ve expanded the scope from just Asia Pacific to include globally strategic markets – Germany, the United Kingdom (UK), United States of America (US), United Arab Emirates (UAE), and Mexico. We spoke to 787 corporate treasurers and senior managers across 14 markets from large multinationals to local organizations, online and traditional retailers, and both HSBC customers and non-customers.
With the pandemic receding, China’s economy has once again emerged with strong resilience, underpinned by faster-than-expected consumption and labor market recovery.
Strengthening supply chain resilience is nevertheless imperative to businesses of all sizes, who are mostly concerned about counterparty risks while aspiring to expand to new markets. Notably, about 42% of the surveyed corporates in mainland China plan to keep or increase the number of supply chain partners, much higher than the Asia and global averages of 34% and 36% respectively. Their top strategic priorities around digitization and sustainability also remain important.