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HSBC chairman says its business in China not hit by financial crisis
Source: Xinhua 2009-02-02 10:07:30
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HSBC business in China has not been hit by the financial crisis, said Stephen Green, chairman of HSBC Group in an interview with Xinhua at the World Economic Forum on Friday.

He said that he was confident over the development prospect of China's economy and was satisfied with the reform of China's capital market. China's fiscal stimulus package will play an important role in pushing Chinese economy forward.

At a press conference held here on Friday, HSBC called for the creation of a new set of principles and rules that promote international trade by increasing transparency and simplicity in the financial system, and proposed a forum to enable global businesses to engage with governments and regulators as this new marketplace is constructed.

The concept of the "Business 20" forum, which has the support of the British government, is to mirror the G20 group of the world's most influential economies in both the developed and the developing worlds.

Stephen added that the B20 would draw together companies from both the developed and emerging worlds to help inform policy and create a more stable global economy. It would be the voice of sustainable business.