HSBC is expanding its green finance and bond divisions in China to meet increasing demand, according a Reuters report. HSBC Chairman Mark Tucker recently met with Chinese regulators to discuss growth strategies for the bank in China's USD3.9tr fund market. The bank plans to invest in its Chinese asset management sector this year, including establishing new teams dedicated to green assets and fixed income. Amid rising client inquiries, HSBC is also exploring the introduction of carbon offsetting products, primarily for Western multinational companies facing strict emission targets. The move aligns with China's increased focus on climate transition, with climate fund assets having risen significantly since President Xi Jinping announced the country's 2060 carbon neutrality goal.
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