Innovation to power Chinese companies' dreams in ASEAN

Digitization, technology innovation and sustainable development will become key areas of business exploration for Chinese companies in member states of the Association of Southeast Asian Nations, said an executive of HSBC.

"China is taking the lead in the area of internet economy where there is huge room for cooperation," said David Liao, president and CEO of HSBC China, at a recent forum held by the multinational banking and financial services institution in Beijing on the China-ASEAN economic corridor.

Southeast Asia's internet economy is expected to exceed $240 billion by 2025, nearly triple the size in 2018, according to a study released by Google and the Singapore-headquartered investment company Temasek in November.