Companies are missing out on capitalising on the Beijing government's new infrastructure initiatives, thereby missing out on potential business opportunities, warns HSBC. In a survey of over 1,600 senior executives across 14 countries, 41% were aware of the business opportunities presented by the Chinese government's "belt and road" plan, but only 7% of them were capitalising on it. The "belt" refers to the overland Silk Road trading routes linking China to Europe and the Middle East, whilst "road" refers to its maritime connections in the south with Africa, India and Southeast Asia. A recent report from HSBC said that China's Belt and Road initiative is expected to create more than one million jobs for local people within five years.
Companies are missing out on capitalising on the Beijing government's new infrastructure initiatives, thereby missing out on potential business opportunities, warns HSBC. In a survey of over 1,600 senior executives across 14 countries, 41% were aware of the business opportunities presented by the Chinese government's "belt and road" plan, but only 7% of them were capitalising on it. The "belt" refers to the overland Silk Road trading routes linking China to Europe and the Middle East, whilst "road" refers to its maritime connections in the south with Africa, India and Southeast Asia. HSBC says the "belt and road" plan will impact trade in 64 nations, home to around two-thirds of the global population.