- Liu Jianheng, Senior Economist for Greater China of Standard Chartered Global Research Department, said that Standard Chartered has offices in more than 40 "Belt and Road" markets and provides financial transactions and foreign exchange for "Belt and Road" projects in Asia, Africa and the Middle East. And corporate financing services.
- He said that the group set a goal in 2017 to participate in "Belt and Road" related projects worth at least US$20 billion by the end of 2020 to help provide financing. Among them, Standard Chartered participates in the US$4.3 billion solar power station project in Dubai, and assists mainland mobile phone manufacturers to provide financial services such as import and export financing and foreign exchange when they expand the Indian market.
- In addition, regarding the performance of Hong Kong’s economy this year, he said that the economy in the first quarter of this year was not as good as expected. It was mainly dragged down by the external economy. He also pointed out that due to the uncertain progress of trade frictions, he believed that net exports would contribute to economic growth. A negative number, but the stock and property markets performed well, which could offset part of the impact.
- He predicts that the economic growth in the first quarter will be 1.6% to 1.7%. It is estimated that the economy will see a low in the first half of the year. As China increases its support for the economy and the United States suspends interest rate hikes, it can stabilize market confidence and promote economic growth in the second half of the year. He pointed out that Standard Chartered earlier lowered its annual economic growth forecast for Hong Kong from 2.7% to 2.2%, mainly because the economic weakness at the beginning of this year will drag down the economic performance in the first half of the year. Therefore, it lowered its annual economic growth forecast.
Source: Wall Street Article
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