GIC Insights is an annual forum that gathers a select group of senior global business leaders each year to discuss the long-term issues pertinent to the international business and investment community. Held in Beijing on 18 October, the theme this year was The New China Economy.
Why the New China Economy
There is no better time to re-evaluate the state of affairs of the Chinese economy. China is undergoing a major economic transition from investment-and export-led growth to a model driven more by consumption and services, with structural reforms a key part of this process. In 2017, China’s economy grew 6.9%, above the government target of 6.5%, despite a notable decline in fixed investment growth contribution, tighter monetary policy, new financial regulations, and a stronger monitoring of fiscal and banking risks. In addition, with strong governmental support for the technology industry, China’s new generation of entrepreneurs are creating world-class products, developing their own technologies, and rolling out new business models with scale and speed. Its growing influence presents new opportunities and implications for global investors.
At GIC Insights 2018, attendees heard from esteemed panelists on the longer term outlook for China’s new growth model, the prospects for China as a major global innovation and technology player, and the role global investors can play in this. Guests, all distinguished in their respective fields, added to the quality of the discussion with their thoughtful questions and perspectives.
The sharing was rich, and we present an extract of the key takeaways from the sessions. We hope you find the perspectives presented in this summary report helpful.