HSBC, StanChart cut exposure to Chinese commercial real estate

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HONG KONG — Leading Hong Kong banks have cut their exposure to Chinese commercial real estate this year, with the CEO of HSBC warning the sector faces “challenging” times ahead.

HSBC reported on Tuesday that its mainland commercial property exposure at the end of June was $14.3 billion, down from $19.8 billion at the same time in 2022. Standard Chartered said on Friday it had reduced its exposure to about $3 billion from $3.7 billion a year ago.

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