Foreign execs' view on China's economy: 2023 onward (3)

Alan Li, president, CBRE China. [Photo provided to chinadaily.com.cn]

Q1: How has your company's performance been in China this year? Do you plan to further expand your footprints in China next year?

Despite the cyclical challenges facing the global and domestic economies, we continued to deliver exceptional service and outcomes to our clients. CBRE led real estate investment sales activity in China in the first half this year, according to MSCI Real Assets, and was constantly awarded as cooperation partners by local government bodies because of our extensive global and local business network.

Meanwhile, we expanded and renovated four of our 10 offices in the Chinese mainland to improve the work environment and provide better support for our people.

To deepen our footprint in China, we will not only evolve to meet the expanding needs of our local clients and stakeholders, but also align CBRE's business strategy with China's ongoing economic and social transformation.

Q2: What are your expectations for China's economy in 2024?

In the intricate and dynamic global landscape, the Chinese economy demonstrates resilience as it charts a course of high-quality growth.

Gradually over the past 20 years, the drivers of China's economic growth have shifted from exports, investments, and demographic benefits to newer, more potent forces such as industrial innovation and enhanced consumption.

As we move into the next year, the Chinese economy will continue to evolve toward a stage of high-quality growth, underscoring the importance of sustainable economic development, economic restructuring, industrial enhancement, and improvements in the quality of life.