Date
26 May 2017
Douglas Flint says HSBC's Asian strategy is a huge opportunity in the medium and longer term. Photo:  Reuters
Douglas Flint says HSBC's Asian strategy is a huge opportunity in the medium and longer term. Photo: Reuters

HSBC chairman defends focus on Asia

HSBC Holdings chairman Douglas Flint says he does not understand why investors are critical of its Asia strategy after they recently questioned its focus on China.

Flint told the Wall Street Journal in an in interview that the strategy is good for the lender’s medium to long-term prospects.

HSBC wants to expand in the Pearl River Delta near Hong Kong where the British bank was born more than 150 years ago.

However, investors are not sure the increased emphasis on the Chinese market makes sense.

They questioned whether the bank can compete with domestic champions, WSJ says. 

They also worry about slowing lending in Asia.

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