“The days of making a billion t-shirts [are over], as it is too carbon intensive, and they want to go up the added value chain.”
So, she said, on a long-term basis now is the time to buy Chinese stocks.
“But you need a long term horizon, because I don’t know where the bottom is going to be. What I know is that the market has come back, it’s a big market, and there are some growth prospects.”
She addressed some cultural concerns investors might have over the level of government intervention in day-to-day life, highlighted recently when tennis player Peng Shuai disappeared after posting serious accusations against a former government official.
“Although China is a communist country, it’s a very entrepreneurial country,” she said.
“[There are] many, many superior business leaders, and I think there’s actually a lot of commonality in terms of entrepreneurship and idea generation, all of that is common to leaders around the world.”
sally.hickey@ft.com
