CBI member HSBC led a business delegation of major Chinese companies to Brazil for a five-day visit in December last year. HSBC plays a significant role in facilitating the rise of trade and investment flows between China and Latin America, two of the world's fastest-growing emerging market regions.
The delegation, consisting of senior executives from both private and state-owned Chinese companies in energy, resources, motorcycles, construction, and other industries, met with local entrepreneurs and potential business partners to gain insights into Brazil's and Latin America's economic and business environments.
In 2010, HSBC launched a China Desk in Brazil, which is managed by experienced bankers seconded from China to provide on-the-ground support for Chinese companies expanding in Latin America. HSBC also has a Latin America Desk in China, which is managed by seasoned bankers from HSBC Brazil and provides support for companies from Latin America doing business in China and Chinese companies looking to do business in Latin America.
Montgomery Ho, Managing Director and Head of Commercial Banking at HSBC China, said, "While South-South trade is set to become a mainstay and key driver of the global economy, China and Brazil, as well as other Latin America markets, are leading the way with strong domestic growth and increasing bilateral trade and investments. Today, we connect Chinese corporates with Brazil's business community and facilitate their dialogues to help them understand each other’s markets and explore business opportunities. This is a very good demonstration of how HSBC leverages our global connectivity to help our customers capitalise on cross-border trade and investment flows."
Magnus Montan, Head of International Business at HSBC China, said, "Closer economic ties have been generating stronger needs worldwide for cross-border financial services in the past decades. Looking forward, we expect Chinese companies to continue to expand their footprint across global markets and Latin American companies to have greater appetite for doing business with China.
HSBC is the largest foreign bank in China and one of the leading international banks in Latin America. Our strong presence and local knowledge in both China and Latin America position us in a central role in assisting companies' growing trade and investment flows between the world's two rising economic powerhouses through our global connectivity and international banking services, including RMB trade services."
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