19 January 2017

China is likely to play a more prominent role in global affairs in the years to come, Stuart Gulliver, HSBC Group Chief Executive has said.

Speaking during an interview with Bloomberg in Davos, Switzerland, Mr Gulliver said that China’s intention to play a greater role on the world stage was consistent with the country’s “going out” policy and its stage of political and economic development.

China is also likely to become an increasingly dominant force in the Asia-Pacific region, he added. While the US is unlikely to sign up to the proposed Trans-Pacific Partnership trade deal, China is pursuing alternative regional trade agreements. China also aims to forge closer links with its trading partners through ‘One Belt, One Road’ infrastructure investments.

During the interview Mr Gulliver also discussed the future of global trade, the UK’s vote to leave the European Union and the result of the US election.