The CEO of HSBC Michael Geoghegan's relocation from London to Hong Kong announced in September last year, was confirmed recently and it shows yet again the shift of power. The importance of Asia is being felt by every company from all corners of the world. The head is going back to the birth place of 144 years ago. "It helps refocus the development of the group back to Asia," Paul Lee, an analyst at Tai Fook Research in Hong Kong, said of the CEO's relocation, calling it a "positive move". Such is the importance given to the Asian and China region that the board meeting was held in Taipei and they have agreed to increase the number of branches in China by around 20% in the coming years.This is yet another vindication that the Asian region is one not to be taken lightly. Big companies are moving around and having their main offices here because the main markets are here and it will be easy to target them. For smaller companies, they should have a look at this and start having their Asian strategy sorted out sooner rather than later. Getting online with a ".Asia" name can be a good first step to try the market and see what changes have to be made to your service and product.
Source: http://www.reuters.com
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