China’s economy has entered a new phase of development featuring stability and high quality, bringing great opportunities for investors worldwide, according to international institutions.
The conclusion was drawn based on the latest data from the country’s economy in the first three quarters of this year.
Adrian Zuercher, head of Asia Pacific asset allocation for UBS Wealth Management, said China is making a long-term comprehensive approach to economic development for the first time, which marks a shift in priorities to supply-side structural reform, sustainable ecological environmental development, and a rebalanced economic growth structure.
He expressed his confidence in China’s market, as a 22-percent increase in enterprise revenue and an approximate 50-percent growth in the Morgan Stanley Capital International China Index forecast promising prospects for overseas investments.
According to the latest statistics analysis conducted by Standard Chartered Bank (SCB), China is expecting an ever-expanding proportion of consumption in its economy. Meanwhile, Standard anticipates further progress in China’s economic reform in 2018, with bigger strides in State-owned enterprise (SOE) reform, and finance playing a bigger role in deleveraging and serving the real economy.
Morgan Stanley recognized the more rational and balanced structure of China’s economy, based on its GDP growth of 6.8 percent in the third quarter, and forecast it has secured its whole-year target of 6.5 percent.