Economy > Macro

Temasek bullish on Chinese economy's long-term development

2019-07-12 15:33

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BEIJING, July 12 (Xinhua) -- Singaporean state investment company Temasek is upbeat about the mid- and long-term sustainable development of the Chinese economy and favors China as one of its top investment destinations, a company official said Thursday.

The Chinese government has enough policy headroom to mitigate short-term external impact, and both its monetary and fiscal policies are playing active roles, Temasek's head of China Wu Yibing said in an interview.

A few years ago Temasek had already seen that China's growth changed from quantity- to quality-driven with fundamental changes in both the supply and demand sides, Wu said.

Chinese economy and companies have offered important opportunities to forward-looking investors and allowed Temasek to increase the value of more invested companies, Wu added.

As of the end of March, China accounted for 26 percent of Temasek's global underlying portfolio exposure with a portfolio value of about 403 billion yuan (58.7 billion U.S. dollars), ranking top together with Singapore, according to the company's latest annual review.

"Overall, we remain optimistic on China's trajectory in the medium term, on the back of timely and targeted reforms to transition the economy toward a more sustainable growth path," according to Temasek Review 2019.
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