#China's economic recovery##Real estate market#Is China's economy really not working? Henry H. McVey, chief investment officer of global financial group KKR, doesn't think so! After visiting China, Japan and India to understand the local industrial and economic conditions, they finally concluded that China's economic downturn seems to have bottomed out, and some changes have even been overlooked!
Henry H. McVey also talked about the takeaways from his trip to China, the country's shrinking real estate sector, the development of the digital economy and decarbonization efforts, although these two only account for 20% of China's GDP, they are growing at a rate of 40% per year, these shifts should not be ignored! They maintain their forecast of China's real GDP of 4.5% next year and inflation around 1.9%.
KKR, one of the world's largest private equity firms, manages about $519 billion, about 20% of which is invested in Asia, and a July report revealed that KKR invested about $6 billion in China!
