HSBC’s Tucker Talks Up China’s Outlook After Exit From Covid

HSBC Holdings Plc Chairman Mark Tucker talked up the prospects for China’s economy, even as the bank set aside more provisions for possible losses in the mainland.

“China’s recovery after reopening was bumpier than expected, but its economy grew in line with its annual target of around 5% in 2023,” he said in a statement as the bank announced its full-year earnings. “We expect this to be maintained in 2024, with recently announced policy measures to support the property sector and local government debt gradually flowing through to the wider economy.”