StanChart sees China-Asean growth accelerating as ‘China Plus Many’ strategy takes hold
Bank sees growing use of the renminbi for payments, financing and liquidity management as Chinese companies expand across the region
Standard Chartered (StanChart) anticipates a surge in growth for its China-Asean business over the next three years as Chinese enterprises expand their operations across the region. This projection stems from an already robust growth trajectory, with the bank's income from its China-Asean corridor expanding at a compound annual rate of 25% between 2022 and 2025, positioning it as one of the bank's fastest-growing corridors in China.
Chow Wan Thonh, StanChart's head of coverage for Singapore and Asean, projects that this expansion is expected to outpace the growth observed in the preceding period.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
