Zhang Yichen, chairman and chief govt officer of Citic Capital Holdings Ltd.Paul Miller | Bloomberg | Getty PicturesConsumption, healthcare and tec
Zhang Yichen, chairman and chief govt officer of Citic Capital Holdings Ltd.
Paul Miller | Bloomberg | Getty Pictures
Consumption, healthcare and technology are three sector picks for investing in China, stated CITIC Capital’s high govt on Tuesday.
“For us, the highest precedence … remains to be on consumption, as a result of it is nonetheless rising at a better charge than GDP development,” stated Zhang Yichen, chairman and CEO at CITIC Capital, the flagship funding arm of Chinese language state-owned conglomerate CITIC Group.
China’s GDP growth was 6.1%, down from 6.6% in 2018 because the economic system took successful from its bitter commerce struggle with the U.S.
Chatting with CNBC on the World Economic Forum in Davos, Switzerland, Zhang stated well being care can be an essential sector because the Chinese language society is ageing quickly, so there’s strong demand for good health-care providers.
One other potential space for funding is know-how providers because of the potential decoupling with the U.S. in that space, Zhang stated.
Within the space of database software program, “no person in China will consider in opposition to competing with Oracle as a result of that is the worldwide, the trade normal,” he stated. However now, “decoupling may occur any minute, you can not presumably run that threat, so there will probably be home rivals in that subject as properly.”
Beijing has been managing a transition of its economic system from an export-driven manufacturing…