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Business opportunities aplenty in nation, says expert

2019-07-18    Author:   Source:   Views:296    

Shangahi Fastener Expo News,  China, GDP

A container is unloaded from a ship owned by Hong Kong-based China Shipping Container Lines Co at the Port of Oakland in Oakland, California. [Photo/Getty Images]

SAN FRANCISCO - Bright prospects still remain for companies and investors looking at China for growth opportunities, despite the slower growth rate, a top economic expert said.

China's gross domestic product grew by 6.3 percent in the first six months of this year on an annualized basis, the National Bureau of Statistics said on Monday.

The rate, which is significantly slower than the 9.4 percent a decade ago, in fact registered greater incremental expansion since the base today is 182 percent larger, said Andy Rothman, investment strategist at San Francisco-based investment firm Matthews Asia.

"The incremental expansion in the size of China's nominal GDP would be 130 percent bigger than the expansion a decade ago at the faster pace. As a result, opportunities for companies and investors are greater at the currently slower growth rates," he said in an article published on Monday.

The investment expert said China's domestic consumption and services, the bulk of the economy, remain healthy to stabilize employment despite sluggish growth in manufacturing, investment and exports.

Moreover, the Chinese government seems prepared to handle the slowdown and prudently shun stimulative monetary and fiscal policies.

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