Standard Chartered Eyes International Board

Standard Chartered plans to go public in China’s international board, not for raising capital, but for improving brand awareness.

Peter Sands, president of Standard Chartered, said on July 12 that Standard Chartered would keep its diversified business pattern and had the plan of going public in China’s international board after it is launched.

Peter Sands points out that that Standard Chartered could understand why China opens up its financial market gradually. He believes that Standard Chartered is enjoying a safe financial and banking environment in China.

“We are communicating with the Chinese Securities Regulatory Commission. Whether we can go public in the international board depends on the government decision,” says Peter Sands. In his opinion, the launch of international board will be the milestone for China’s financial market.

An insider from Standard Chartered says that Standard Chartered hopes to go public in the international board not for raising capital but also for improving its brand awareness. “Standard Chartered has already gone public in Britain, Hong Kong and India and has got years’ experiences in mainland China. We expect to be one of the foreign companies that go public in China’s international board.”

Peter Sands thinks that Standard Chartered has done well in the services for small- and medium-sized enterprises (SMEs) in China so far. In addition, Standard Chartered’s strategic cooperation with Agriculture Bank of China is also one of its advantages. Standard Chartered is going to stick to its diversified business pattern in China.

Peter Sands thinks that Chinese people are craving healthy and fast economic growth. He believes that the current inflation is a challenge for the Chinese government, which needs to think of a way to defeat inflation without slowing economic growth rate.

In the global market, Peter Sands says that Standard Chartered has fast development in many markets. But he admits that it is not an east job to manage the global businesses well. In addition, the fast change of global financial supervision system and the disparity in different countries’ financial systems are the major challenges for Standard Chartered.