REGIONAL FOCUS: CHINA


US$190bn


Investment inflows to China 2021


Source: UNCTAD


for China, has revised down his China growth forecast to 3.3% as the impact of Covid-19 “is even worse than expected”, but his 2023 forecast is revised up to 5.7%. In his ‘China’s “Whatever it takes” moment?’ report of May 2022, Yi points out that it will “take some time for mobility and activity to recover” after lockdowns. However, we should not allow short-term Covid shocks to distract from the long-term


picture. “We’re still confident that China will bounce back and grow at a fast pace, given its goal of doubling income again over 15 years by 2035,” says Yi. Total GDP is second only to that of the US, and by the end of 2020 the total assets under management of China’s asset management industry reached US$15trn; it has remained in double-digit growth in the past few years. Nicolas Aguzin, chief


executive of Hong Kong’s stock exchange, said in November 2021 that China’s capital markets “would probably more than triple” in size to US$100trn in the next decade. Deutsche Bank’s Peter Qiu, Greater China Head of Corporate Coverage, notes that China is now a very internationally connected country, and this is a big factor in investor decisions. “China is the number one trading partner of 130-plus


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