Primavera Capital CEO refutes narratives calling China 'uninvestable'

DAVOS, Switzerland - Narratives calling China "uninvestable" are "purely nonsense," a senior executive of Primavera Capital Group, an Asia Pacific-based investment firm, has said.

In an interview with Xinhua, Fred Hu, Primavera's CEO, said that the fundamentals sustaining China's long-term growth are improving with China's capital market brimming with opportunities. He believed that China's growth in 2024 will build on the economic performance of the past year.

Hu said that many "bright spots" in China's economy, ranging from manufacturing, new energy and consumer spending to technological innovation, can fuel the country's economic growth.

The CEO said China's economy has shown sound momentum at the beginning of 2024 and will maintain a strong recovery.

In the past year or so, the Chinese government has taken a string of measures to revitalize the economy, and the transparency and clarity of its policies have reassured entrepreneurs and investors, he said.

The senior executive further argued that China's high-quality economic development has injected momentum into global economic growth.

"China is not an isolated economy, but closely engaged in global economic integration. We also need a peaceful, stable and predictable world order to ensure that China's economy can continue to prosper."

In return, Hu said that China will have positive spillover effects on global economic recovery and rebuild confidence given its economic scale and influence.