by JIANG Yiman
Nearly six in 10 overseas entrepreneurs are considering expanding into mainland China within a year, drawn by the country's advances in artificial intelligence, skilled labor and large consumer market, according to a report by HSBC Global Private Banking on Tuesday.
The Global Entrepreneur Wealth Report found that despite global market uncertainty, entrepreneurs plan to drive growth through investments in AI and new markets. Interest in China was strongest among respondents from Indonesia (83%), the United Arab Emirates (81%) and Saudi Arabia (79%).
China's combination of technology adoption, competitive talent and scale continues to appeal to global business leaders, HSBC said in the report.
Mainland Chinese entrepreneurs are similarly upbeat, with 59% planning to expand into new markets, 50% intending to invest in AI and 41% looking to hire more staff over the next year.
The survey also showed that Chinese respondents were more likely than their global peers to link personal wealth with business growth. About 46% said reinvesting in their companies was their main driver of wealth, while 59% prioritized family health and 50% children's education as key goals — both above global averages.
Art has become a popular alternative investment in East Asia, with 43% of mainland respondents allocating funds to art collections, compared with 24% globally, HSBC said.
A separate HSBC survey in April showed China's pro-growth policies and technology sector strength have lifted investor confidence in emerging markets.
