Consistent China Strategy for HSBC Successor

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HSBC's pivot to China and Hong Kong amidst challenges in the real estate sector has had mixed results so far. Despite geopolitical tensions and internal challenges, the bank remains focused on its global strategy, especially in China. The successor to the CEO is likely to continue the bank's aspiration of being a global institution facilitating trade across regions, and a change in approach towards China is not expected.

The Federal Reserve has signalled that US borrowing costs are likely to remain higher for longer, and cruise operator Viking Holdings rose on its market debut. Plus the FT’s Owen Walker explains what the exit of HSBC chief executive Noel Quinn means for the bank’s China strategy.

Mentioned in this podcast:

Federal Reserve signals that interest rates will remain higher for longer

Cruise line Viking rises after launching year’s second-largest US IPO

What triggered Noel Quinn’s shock exit from HSBC

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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