HSBC celebrates commercial ties between Bangladesh and China

HSBC logo.

Dhaka, March 23 --The Hong Kong and Shanghai Banking Corporation Limited (HSBC) recently hosted a ‘Bangladesh-China Business Connections’ event bringing Chinese businesses, and institutions together to celebrate the long-standing relationship between China and Bangladesh.

The event explored Bangladesh’s emergence as an attractive investment destination, China’s Belt and Road Initiative and how Bangladesh is starting to realise the potential of this initiative resulting in accelerating business, trade and investment activity between the two countries, said a media statement.

Yan Hualong, Minister Counselor and Deputy Chief of Mission of the Chinese Embassy in Bangladesh highlighted that under the BRI initiative Chinese companies have shared their expertise and experience to realise key infrastructure developments.

Noting the aspiration of Bangladesh to join the rank of developed countries by 2041, Yan said ‘China stands shoulder-to-shoulder with Bangladesh to help reach its economic goal of becoming a developed country by 2041.’ He also lauded HSBC for supporting closer connectivity between companies in China and Bangladesh.

With the aim to strengthen economic ties between China and Bangladesh, Ge Zhenyu, President of the Textile unit of Chinese Enterprise Association in Bangladesh (CEAB) proposed collaboration between CEAB and several Bangladeshi organisations such as the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Investment Development Authority (BIDA), and Bangladesh Export Processing Zones Authority (BEPZA).

The goal of the collaboration is to attract more Chinese companies to invest in the manmade supply chain of the Ready-Made Garment industry in Bangladesh. Ge Zhenyu also highlighted HSBC’s pivotal role as a global bank in facilitating this initiative, by providing financial services and expertise to support these ventures.

Mahbub Ur Rahman, Chief Executive Officer of HSBC Bangladesh, said, “As two nations with strong economic ties and complementary strengths, there are ample opportunities for Chinese investors to contribute to Bangladesh’s growth story. This bilateral relationship represents a corridor of immense potential, fueled by dynamic economies and strategic partnerships. HSBC stands at the forefront, leveraging our global expertise and local insights to unlock opportunities, drive growth and foster prosperity along this transformative route.” - UNB