วัน: 14 ตุลาคม 2024

HONG KONG, Oct 14, 2024 - (ACN Newswire via SeaPRwire.com) - Standard Chartered and the Hong Kong Trade Development Council (HKTDC) today released the Standard Chartered GBA Business Confidence Index (GBAI) for the third quarter of 2024. The “expectations” index rose for a second straight quarter to 55.2 from 54.8 in Q2, reflecting sentiment continued to improve modestly among firms. The “current performance” index for business activity fell to 50.6 from 54.1 in Q2, indicating a further weakening of economic momentum after a challenging first half of 2024.Hong Kong leads bullsAt city level, Hong Kong and Dongguan registered improvements in both current performance and expectations sub-indices. Hong Kong posted the highest “expectations” index, rising to 58.8 from 49.7 in Q2, the steepest rise among the 11 Guangdong-Hong Kong-Macao Greater Bay Area cities, while “current performance” slightly increased by 0.2 points to 47.3. The “expectations” index of the other five cities in the survey were all above the 50 neutral mark.In line with the soft set of China macro data in July and August, the sub-indices for industry categories trended down in general, with the manufacturing sector suffering the most. In terms of “expectations”, while GBA manufacturers’ confidence may have been affected by a potential surge in US tariffs against China-origin products in the event of a Trump win in the November US presidential election, the score remained stable at 54.1, well above the neutral mark.Kelvin Lau, Senior Economist, Greater China, Standard Chartered, said: “The survey findings are in line with the economic data released in August, pointing to a slower industrial production, retail sales and fixed asset investment growth on subdued domestic demand and adverse weather. Nevertheless, it is noteworthy that the optimism associated with China’s stronger-than-expected stimulus package introduced in late-September, together with the new phase of Fed’s rate cut cycle, has yet to reflect in the third quarter survey findings. We believe the business sentiment among GBA companies can be boosted in the near term, driven by the positive sentiment and jump in equity market turnover following the announcement of the stimulus measures.”60% GBA companies express concerns over risk factors – rates, economic growth and trade barriers topped the listWhile the rate-cutting cycle can serve as a tailwind to business, the market outlook remains challenging. 60% of respondents saw external and internal risks posing a substantial risk to their overall business in the next 12 months. “Higher global inflation and interest rates” (47%), “renewed China growth slowdown” (46%) and “trade tariffs, sanctions against China-origin products” (42%) were the top three concerns. The Fed’s recent jumbo rate cut in September, signalling potential relief to GBA companies, likely offset lingering trade and geopolitical risks in the run-up to the US presidential election.During the survey period, the discussion on tariff hikes against products of Chinese origin arose again. In terms of trade barriers, 47.2% of respondents said they were negatively impacted by tariff hikes versus 44.2% by sanctions and 34.6% by non-tariff barriers.In the event of further rise in trade disputes between China and the US/EU, of the 37% survey respondents involved in external trade and anticipating a change to their external trade in the next few months, 88% said they would front-load their second-half export orders, while 81% said they would front-load their imports to minimise the potential impacts to their businesses.  Irina Fan, HKTDC Director of Research, said: “GBA manufacturers may have concerns about a potential surge in US tariffs against China-origin products after the November US election. However, some 50-60% of the respondents do not anticipate any potential negative impacts on their business.”About the GBAIThe GBAI is the first forward-looking quarterly survey in the market that looks at the business sentiment and synergistic effects in cities and industries across the GBA. It is compiled based on a survey of more than 1,000 companies in the GBA covering the manufacturing and trading, retail and wholesale, financial services, professional services and innovation and technology sectors. The index enables investors and businesses to better understand the current business climate, gauge future performance prospects and formulate their market strategies for the GBA.Related materialsStandard Chartered GBA Business Confidence Index Report: https://www.sc.com/hk/gba/gba-index-report/HKTDC Research: https://research.hktdc.com/en/article/MTgyMTM1MTk5NwPhotos download: https://bit.ly/3NrhLXcKelvin Lau, Senior Economist, Greater China, Standard Chartered, and Irina Fan, Director of Research, HKTDC, announced the latest GBA Business Confidence Index (GBAI) today (14 October). Kelvin Lau, Senior Economist, Greater China, Standard Chartered Irina Fan, Director of Research, HKTDCMedia enquiriesCorporate Affairs DepartmentStandard Chartered Bank (Hong Kong) LimitedFlora ChiuTel: (852) 3843 2285Email: flora.chiu@sc.comCommunications & Public Affairs DepartmentHKTDCKaty Wong                         Clayton LauwTel: (852) 2584 4524              Tel: (852) 2584 4472Email: katy.ky.wong@hktdc.org     Email:clayton.y.lauw@hktdc.orgAbout Standard CharteredWe are a leading international banking group, with a presence in 53 of the world’s most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.The history of Standard Chartered in Hong Kong dates back to 1859. It is currently one of the Hong Kong SAR’s three note-issuing banks. Standard Chartered incorporated its Hong Kong business on 1 July 2004, and now operates as a licensed bank in Hong Kong under the name of Standard Chartered Bank (Hong Kong) Limited, a wholly owned subsidiary of Standard Chartered PLC. For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.  Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Oct 14, 2024 - (ACN Newswire via SeaPRwire.com) - The HKUST-Sino One Million Dollar Entrepreneurship Competition (referred to as 'HKUST Entrepreneurship Competition') Hong Kong Regional Final has successfully concluded, and the 'GF Innovation Award' sponsored by GF Securities (000776.SZ; 1776.HK) was ultimately won by the Pest0 team. The Pest0 team is applying for a patent for their natural pest-repellent pellets, which have won high recognition from the judges for its eco-friendly, reusable, and safe features.Group photo of Mr. Wu Xin ,the Managing Director of GF Holdings (Hong Kong)Corporation Limited (third from left),and members of Pest0, winning team ofthe 'GF Innovation Award'Mr. Charles Lin, CEO of GF Holdings (Hong Kong) Corporation Limited, said, 'In the current landscape of global economic development, entrepreneurial spirit is like a lighthouse, illuminating the journey of innovation. Entrepreneurs are not only dream chasers but also shapers of the future. They act like catalysts, stimulating the innovation and vitality of the entire society, and building a business ecosystem full of infinite possibilities. Through One Million Dollar Entrepreneurship Competition, we witnessed the inheritance and promotion of such entrepreneurial spirit. GF Securities (Hong Kong) is willing to walk side by side with all entrepreneurs with dreams, writing a new chapter of high-quality innovative development together.'As a leading national securities firm in the Guangdong-Hong Kong-Macao Greater Bay Area, GF Securities has always been committed to serving the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and enhancing its financial competitiveness. Hong Kong is located in the heart of the Guangdong-Hong Kong-Macao Greater Bay Area with a high degree of internationalization in its capital markets, providing a favorable growth environment for startups. In response to the emerging innovative and entrepreneurial new forces with a global vision in the Greater Bay Area, GF Securities has sponsored the 'HKUST Entrepreneurship Competition for eight consecutive years since 2017, donating more than RMB1 million. With its own advantages, GF Securities actively promotes the younger generation rooted in Hong Kong and with a global outlook to devote themselves to entrepreneurial endeavours, and cultivates more outstanding entrepreneurs for the future in the Guangdong-Hong Kong-Macao Greater Bay Area with an eye on the international market.Up to now, the 'HKUST Entrepreneurship Competition' has been successfully held for 14 years, expanding to five regions including Beijing, Guangzhou, Shenzhen, Foshan and Hong Kong. It has identified and nurtured many projects and teams with commercial prospects, including well-known enterprises such as DJI drones and Yunzhou unmanned surface vehicles. In 2024, the Competition has more than 300 participating teams from Hong Kong and around the world by adding the 'International Student Track', which invited teams from 15 countries and regions including Australia, Canada, Germany, India, Singapore, the United States and Vietnam, further enhancing its influence.GF Securities, as the platinum sponsor of the HKUST Entrepreneurship Competition, participated and offered full support throughout the event. In addition to establishing GF Innovation award, GF Securities also leveraged its professional advantages in the capital market to provide professional guidance and support for college entrepreneurs. GF Securities appointed experienced investors as judges to engage in face-to-face exchanges with participating student teams, facilitating the progress of the HKUST Entrepreneurship Competition in good order.Over the years, the 'GF Innovation Award' has achieved remarkable performance, with innovative projects covering emerging fields such as Fintech, biology, IoT, new energy, and healthcare, where unicorn companies have been continuously emerging in recent years. It's represented by the Allegrow Biotech team established in 2023 and its three co-founders, namely Dr. Laurence Lau, Dr. Melody Chung, and Prof. Chau Ying, all coming from the Department of Chemical and Biological Engineering, the Hong Kong University of Science and Technology. Dr. Laurence Lau said: 'We hope to show the innovative immune cell manufacturing technology of Allegrow through the Competition. Meanwhile, the cash awards and investment opportunities provided by the Competition are also of great help to the company's further development and expansion, contributing to the commercialization plan of our products.'At present, with the support of cash awards provided by GF Securities and the Competition, the Allegrow team has steadily developed three products to meet the needs of different immune cell therapeutics manufacturing. For the future, Dr. Laurence Lau said that the team will continue to optimize AimGel technology, diversify manufacturing applications for different targeted immune cells, expand a broader market, and assist innovative biopharmaceutical companies in conducting batch immune cell manufacturing more efficiently and conveniently. It is expected that products reaching GMP level will be launched in 2026 to embark on a new stage.In mainland China, GF Securities has initiated the Small-scale Start-up Support for University Students of GF Securities for 10 consecutive years, with a cumulative investment of more than RMB20 million in financial support, has issued RMB9.7 million in support for 470 outstanding entrepreneurship projects, and has engaged more than 300 startup mentors for more than 60 universities to carry out a series of entrepreneurship activities. These activities not only provide valuable support and guidance to university students but also effectively promote the integration of industry-university-research, as well as the cultivation of innovative and entrepreneurial talents.In addition, GF Securities has also made great efforts in the field of social responsibility. GF Securities Social Charity Foundation, jointly initiated by GF Securities, GF Fund, GF Futures, and GF Xinde in 2011, is the first foundation with a securities firm as the main initiator and has received the highest 5A rating in social organization evaluation in China. For over ten years, the foundation has carried out a series of influential social welfare projects focusing on rural revitalization, educational assistance, financial empowerment, and medical assistance. As of now, GF Securities Social Charity Foundation has donated nearly RMB300 million in total.Looking ahead, GF Securities will continue to uphold its welfare concept of 'Gathering the Love from the Bottom of Heart', actively fulfill social responsibilities, and strive to promote the vigorous development of youth innovation and entrepreneurship at home and abroad, contributing its strength to the prosperity and development of the Greater Bay Area and society as a whole. Copyright 2024 ACN Newswire via SeaPRwire.com.