China’s vast market potential was reaffirmed during HSBC’s latest International Exchange event in Shanghai which drew the bank’s customers from across the world, including HSBC Malta’s business client The Mizzi Organisation.

HSBC International Exchange events are organised in key locations to connect businesses, enhance communication, and create global opportunities for trade and business growth. Before this event in China, another International Exchange was held in Brazil and others will be staged in Dubai and India later this year.

Mizzi Organisation’s president Maurice Mizzi explained he held a meeting with MG, the Chinese car company, where a relationship was established.

“I am also in contact with two of the participants, exporters of pharma manufacturers, who are interested in exporting to Malta. An interesting factor of this exchange is most guests were more or less of the same business size, employing between 600 and 1,500 people.” Chev. Mizzi added.

The recent record rates of growth enjoyed by China have been spectacular by any standard, but faced with continuing economic uncertainty in the US and eurozone, the country has had to adjust in the face of slowing global demand, HSBC’s chief economist for Greater China, Qu Hongbin told the gathering.

“While the short-term picture looks less record-breaking, we are not watching China’s growth story come to an end.”

HSBC China’s head of commercial banking, Montgomery Ho, echoed this analysis, saying China’s growth was set to continue for at least the next two decades. “Due to the uncertainty in the US and eurozone, in the near future, China will be concentrating its efforts on exports and business interaction with Europe which has been on China’s back burner for some time. HSBC’s international exchange in Shanghai was doubly important.”