In March this year, Micro Connect launched its Micro Connect Macao Financial Assets Exchange (MCEX) in Macao. MCEX is the first licensed global exchange for Daily Revenue Obligations (DROs), a new asset class that connects institutional capital around the world with China's micro and small businesses.
Supporting Micro Connect's growth journey
HSBC has played a significant part in Micro Connect's success story. It was the first bank to arrange an asset-backed loan of US$25 million through its fund dedicated to helping innovative businesses in new economy sectors such as e-commerce, fintech, robotics, biotechnology and healthcare technology across the Greater Bay Area.
"We are pleased to have received this facility from HSBC, which marks a critical milestone as it opens up a new, sustainable funding channel for our long-term growth," says Charles Li, Founder and Chairman of Micro Connect. "As we continue to scale our micro and small business investments in China and beyond, we look forward to closer collaborations with HSBC as a long-term finance partner."
Frank Fang, General Manager, Head of Commercial Banking, Hong Kong and Macau, HSBC, says: "At HSBC, we constantly look into developing tailored solutions to cater to innovative business models across different sectors, including fintech companies and start-ups which are reshaping the future of finance. We are delighted to be the first bank to arrange an asset-backed loan facility for Micro Connect, deepening our long-term relationship to support their expansion strategy."