HSBC has ended its marketing tie-up with financial information firm Markit, both companies said on Friday, winding down a five-year relationship that some industry insiders said might have become too expensive and a potential political liability for HSBC in China.
Spokesmen for Markit and HSBC said HSBC had ended its sponsorship of the closely watched China purchasing managers index and of other emerging markets indices compiled by Markit.
Both companies described the cooperation as a success; neither gave a specific reason for the ending of the arrangement.
"The sponsorship arrangement is now coming to an end and we will announce replacement sponsors soon," Markit spokeswoman Laura Davis said.
Market insiders have been chattering about the coming end of the partnership for months, with some speculating that HSBC was ending its sponsorship of the indicator because of pressure from Beijing, or because the sponsorship costs had become too expensive, or both.
Earlier this month, HSBC announced plans to slash up to 25,000 jobs worldwide and shed another 25,000 employees by selling off its troubled operations in Turkey and Brazil.
HSBC produces its own branded research reports on economic trends around the world.