New Roads to China
As it rebalances from export-led growth to domestic consumption and services, China’s economic transformation is creating new business opportunities and challenges. China is now a net exporter of investment, the Renminbi (RMB) is emerging as the currency of choice for international trade settlement and through recent initiatives such as “One Belt One Road”, China is looking for new ways to connect with its trading partners via telecommunication and road, rail and maritime links. Recent volatility has prompted questions about China’s ability to maintain growth momentum while delivering its reform agenda, but there are signs of cyclical improvement, led by a recovery in the property sector and improved access to infrastructure financing.
What is the current state of China’s economy and what is the medium-term impact of current volatility? How is Beijing using the RMB to speed up its integration into the global economy? To what extent is the “One Belt, One Road” initiative creating new strategic and business opportunities? What steps is China taking to “green” its financial system to green the economy and what are the likely priorities for China’s G20 Presidency?
These are some of the questions Helen Wong, Chief Executive, Greater China, HSBC discussed in Brussels on 14 October in an event where The European Development Platform was present.