The New China Economy
China has been 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 seeing a notable decline in fixed investment growth contribution, tighter monetary policy, new financial regulations, and stronger monitoring of fiscal and banking risks. In addition, with strong governmental support for the innovation and 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.
At GIC Insights 2018, our two esteemed panels shared their views on the longer term outlook for China's new growth model, the prospects for China as a global innovation and tech superpower, and the role foreign investors can play in this.