[HIGHLIGHTS] A number of foreign financial institutions have achieved outstanding performance and have generated considerable revenue in the Chinese market.

HSBC Holdings reported record profits in 2023, with revenue increasing by US$15.4 billion to US$66.1 billion, an increase of 30%. Hang Seng Bank’s new accounts opened by non-Hong Kong residents increased by 342% year-on-year.

Many foreign-funded institutions have expressed confidence in the resilience of China's economy and its mid- to long-term growth opportunities. New Economic Outlook released by HSBC Global Research shows that China's economic growth rate is expected to reach 4% in 2024.