HSBC summit: idea that China is ‘uninvestible’ is ‘shallow and lazy’, Primavera Capital’s Fred Hu tells panel
- Pessimism about China not justified by facts, the founder, chairman and CEO of Chinese investment firm Primavera Capital Group says
- China is clearly focusing on technological innovation such as AI and quantum computing, technologies that will shape the future: LSE economist
The future of China’s economic growth depends on strong innovation in the technology sector and – despite the current headwinds – investors would be wrong to sleep on the country’s potential, industry leaders said at the HSBC Global Investment Summit in Hong Kong on Monday.
“The idea that China is ‘uninvestible’ is so hyperbolic psychologically, it is not just healthy scepticism but it is cynicism,” said Fred Hu, the founder, chairman and CEO of Chinese investment firm Primavera Capital Group.
“I would say this is intellectually just shallow and lazy.”
The world’s second-largest economy is still the single-biggest contributor to global gross domestic product growth, and the size and scale of its industries is still huge, he told a panel called “The new China playbook, China by numbers”.
“Any global investor who seeks to build a globally diversified portfolio, how could you ignore China? There is just no other way,” Hu said.
“All of this pessimism about China is not justified by on-the-ground facts.”