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Innovation to help China seize opportunity: Jim Rogers

Updated: May 24,2016 11:07 AM

“Entrepreneurship and innovation policy will enable China to seize the initiative in the next round of global economic recovery,” said Jim Rogers, a US businessman and investor, in an interview at a forum in Guangzhou, capital of Guangdong province.

He said the Chinese economy will surely be affected in the globalization era, especially those Chinese enterprises that have close trading relations with Western countries. However, development will remain stable and “hard landing” is unlikely to happen, he added.

Some industries still have great potential in China, and they are developing into new supporting sectors, Rogers said. Environmental protection, healthcare, agriculture and high-speed rail will always be good investment regardless of the economic environment, he said.

He agreed that the Chinese government encourages entrepreneurship and innovation. A country will have more opportunities to develop if new fields see innovation and are explored, he said.

Rogers said the government can announce more policies to encourage venture investment as new enterprises are finding it hard to get support from the traditional financial system.