With the rapid economic revival in China, the confidence of foreign capital investors towards China is also increasing continuously. Recently, many investment institutions have raised China’s economic expectations. International investment bank Goldman Sachs said in its latest research report that strong May Day holiday tourism data and a still-stable April services PMI suggest that consumption and service industries will continue to revive in the coming months. Thereby, Goldman Sachs continued this year’s forecast that China’s economic growth could reach a growth rate of 6 percent.
BlackRock, the world’s largest asset management group, forecast that China’s economic growth could slow to 6.1 percent this year. At the same time, it said that the endogenous driving force of China’s economy will also continue to improve with various policy support. BlackRock’s Chief China Economist Song Yu said that the just-concluded May Day holiday boosted tourism demand and boosted consumer confidence. and restored, all of which boosted the pace of economic recovery. The expectation of economic recovery has also promoted the recovery of people’s consumption confidence, and the two have gradually formed a virtuous circle.
Lei Cheong, deputy director of the Equity Investment Department of Morgan Stanley Huaxin Fund, said that the continuous heating of offline consumption has accelerated the development of the catering industry, and also promoted a significant improvement in sales of clothing and cosmetics. Apart from them, the sales growth of automobile and communication equipment etc. sectors also continues, which shows the important role of consumption in the strength of the economy. While being optimistic about China’s economic prospects, foreign financial institutions are also ramping up their investments in China.
The Neuberger Fund, the first batch of fully foreign-owned public offering funds to be licensed, plans to launch a second public offering fund product offering this month. As the first newly established wholly foreign-owned securities company in China, Standard Chartered Securities has just completed its registration and is currently preparing for official approval to start its business. Kang Lin, CEO of Standard Chartered Securities (China), said that the Chinese market has always been the most important market for Standard Chartered in the world. Capturing opportunities in the Chinese market is also an important part of our Group’s core global strategy. We hope that we will be able to contribute to the entire Chinese economy after opening up as soon as possible.
(Credits- China Media Group, Beijing)
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