China can avoid middle income trap due to productivity improvement (4)

Liew Mun Leong, president and chief executive officer of CapitaLand, said he remained confident about the growth of China.

Be it a company or a political party, if the system allows the right people to be selected, "chances are it will work," said Liew, who has been bullish on China over the past decades and led his company to succeed in China.

Nevertheless, Liew said it won't be easy for China to push forward reforms in the state-owned enterprises given that it is still not socially acceptable in China for the company leaders to be given equities.

Tan said that China will have to push forward reforms, at least making the system more transparent and accountable.

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