China’s economy remains resilient with powerful underlying strengths and long term opportunities, say Hong Kong officials, UBS’s Ermotti
- Hong Kong as a financial hub will play a ‘superconnector’ role in China’s next economic narrative
- While a myriad of challenges is holding back China’s expansion, investors should not forget China’s powerful underlying strengths: Primavera’s Hu
China’s economy remains resilient despite facing a multitude of headwinds, and global investors should focus on long term opportunities and take advantage of Hong Kong’s role as a “superconnector,” according to government officials and corporate executives.
“Hong Kong is the only city in the world where China’s advantages and international advantages converge,” Financial Secretary Paul Chan Mo-po said at an investor symposium held by the Milken Institute on Tuesday. Hong Kong is “the best place” for connecting business opportunities and businesspeople, he added.
The city will further enhance the share listing regime, mutual market access arrangements with the mainland, and the offshore yuan business to attract more investors, Chan said, emphasising its role as a “connector” between China and the world.
China this month set a growth target of around 5 per cent this year, similar to the pace last year, as growth adjusted to challenges including a prolonged slump in the housing market and currency depreciation. Geopolitical tensions and tech sanctions by Western countries have also hobbled exports.
More than 550 global executives, including UBS CEO Sergio Ermotti and BYD executive vice-president Stella Li, are attending the two-day event in Hong Kong to discuss current and future trends shaping the world’s economy.
