HSBC CEO: China property market outlook on the mend

FILE PHOTO: A Chinese national flag flies in front of HSBC headquarters in Hong Kong, China, July 28, 2020. REUTERS/Tyrone Siu

21 Feb 2023 02:46PM (Updated: 21 Feb 2023 02:46PM)

SINGAPORE : HSBC Group CEO Noel Quinn said the outlook for China’s troubled property sector had improved in January, despite the lender booking higher charges in the fourth quarter related to its exposure to the country’s commercial real estate sector.

“The sentiment in the fourth quarter was more negative than the sentiment that emerged in January,” Quinn told Reuters, adding that there were positive developments both on the demand side and the supply side linked to big policy measures.

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