HSBC launches $290m lending facility for tech startups in China's Pearl River Delta

A Swiss International aircraft flies past the HSBC headquarters building in the Canary Wharf financial district in east London February 15, 2015. REUTERS/Peter Nicholls

HSBC has launched a $290 million lending facility aimed at technology start-ups and other new industries in China’s Pearl River Delta region, intensifying the battle for a slice of a business that is growing despite a slowing economy.

Showered with money from private investors over the last few years, the promising technology start-ups in China, the world’s second-largest economy, have shunned traditional lenders, seeking to instead raise funds directly from equity investors.

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