CLSA to follow China’s lead and expand in belt and road areas
The Hong Kong-based brokerage aims to have a presence in all areas encompassed by Beijing’s global trade strategy, says CEO
CLSA, the offshore arm of China’s biggest brokerage, is planning to accelerate its expansion in Southeast Asia, the Middle East, and other areas that are part of the Beijing’s ambitious “Belt and Road Initiative”.
The Hong Kong-based brokerage, founded in 1986 and acquired by state-owned Citic Securities five years ago, has re-entered Pakistan through a partnership with Alfalah Securities. It also intends to establish a presence in Vietnam, Bangladesh and Dubai this year through similar partnerships with local firms in each market.
Over the past 32 years, CLSA has established a presence in 13 markets in Asia, including India, Indonesia, the Philippines and Korea.
“As China expands, we are also expanding globally,” said Jonathan Slone, CEO of CLSA, in an interview in Hong Kong.
“Asia is our backyard. [But] we want to be in all areas of the ‘Belt and Road Initiative’.”
China launched its flagship global trade strategy five years ago, aiming to create an economic land belt that includes countries on the ancient Silk Road through central and west Asia, the Middle East and Europe, as well as a maritime route that links China’s port facilities with the African coast.
