HSH Nordbank taking part in the “Hamburg Summit - China meets Europe”
How banks can gain a foothold in the future market of China
Hamburg, September 11, 2008 - At the third “Hamburg Summit – China meets Europe” event hosted by the Hamburg Chamber of Commerce every two years representatives from 15 countries are discussing how China and Europe can converge more in economic terms. The participants include the Chinese Prime Minister Zhang Dejiang and Germany’s Foreign Minister and Vice Chancellor Frank-Walter Steinmeier. Representing HSH Nordbank, which has participated as a principal sponsor since the first event in 2004, are Management Board chairman Peter Rieck, Board member Bernhard Visker and the head of the Energy business unit, Klaus Bernhart.
“China is the most populous country on earth and the fourth-largest economy in the world. It is an interesting market for European banks as well,” says Peter Rieck, Deputy Chief Executive Officer of HSH Nordbank AG. One of today’s five panels is looking into how European banks can gain a foothold in China. “HSH Nordbank is not relying on size, but rather on its expertise in clearly defined markets,” says Rieck. For the commercial bank based in Hamburg and Kiel this applies particularly to the shipping, transportation, commodity-trade finance and renewable energy sectors. As world’s largest provider of ship finance, for example, HSH Nordbank occupies a leading international position that will be of great significance in the growth market of China and can pave the way into it.
Experience plays another key role in this. Through its clear specialization in core and niche markets, HSH Nordbank has acquired decades of know-how that it applies either in its own right or in joint ventures with local partners. The most recent transaction by this route in China involved financing four large passenger jets for Shandong Airlines.
One focal area of this third Hamburg Summit is also the topic of climate and environmental protection. As a player in the global economy, HSH Nordbank is taking account of these issues that point the way to the future: Klaus Bernhart, General Manager of the New York branch, is also the Bank’s global “energy officer” and will on the “Environment and Climate Protection – Hot Topic for the World Economy” panel provide insight into HSH Nordbank’s energy strategy.
The “Hamburg Summit – China meets Europe” event is being held from September 10 through 12 at the Hamburg Chamber of Commerce. The conference program starts today, September 11.
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