Global investors should eye opportunities in China, says Citadel founder

(Xinhua) 10:26, November 11, 2023

HONG KONG, Nov. 10 (Xinhua) -- Global investors have to "be watching and investing" in China in view of the extraordinary capabilities of management teams in China and their highly competitive products, Citadel founder Ken Griffin has said.

Speaking at the Global Financial Leaders' Investment Summit held in Hong Kong, Griffin noted on Tuesday that in the past, an investor could have been well-served by exclusively investing in U.S. companies for 100 years. However, he said that the world has changed.

"There's much more innovation outside of the United States relative to 50 years ago," said Griffin.

He highlighted the extraordinary capabilities of management teams in China, noting that they produce highly competitive products on the global stage, especially in the solar and electric vehicle industries.

Also on Tuesday, the International Monetary Fund (IMF) raised its forecast for China's growth by 0.4 percentage point, setting its gross domestic product (GDP) projection for 2023 at 5.4 percent growth.

"The Chinese economy is on track to meet the government's 2023 growth target, reflecting a strong post-COVID recovery," said a statement made by the IMF's First Deputy Managing Director Gita Gopinath following a visit to China. 

(Web editor: Peng Yukai, Sheng Chuyi)


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