English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 19 December 2019, 11:18 HKT/SGT
Share:
In China, an Unprecedented Economic Transformation

HONG KONG, Dec 19, 2019 - (ACN Newswire) - Lei Zhang' 02 is investing in Chinese companies during an extraordinary moment in history, he told students at Yale SOM. The country, he said, has been undergoing an economic transformation unlike any other on the planet. The United States, he noted, evolved sequentially through an Industrial Revolution, urbanization, and an information age over nearly 200 years. China is experiencing all three simultaneously.

Left to right: Guolu Qiu, Stephen Roach, Lei Zhang

"China has an unprecedented triple combination. It's all happening at the same time and to a scale of 1.3 billion people," Zhang said. "Think about using the United States as a parallel example, it's like having Carnegie, Rockefeller, J. P. Morgan, and Mark Zuckerberg sitting together in the same room, in the same decade, building up all the wealth and value at the same time."

Zhang, the president and chief investment officer of Hillhouse Capital Management, spoke as part of a panel discussion with Guolu Qiu, CEO of Gaoyi Asset Management. Stephen Roach, senior fellow at Yale University's Jackson Institute of Global Affairs, moderated the conversation, part of the Colloquium in Asset Management. The three explored the environment for investors in China, the trends shaping investments now, and the outlook for asset managers.

Qiu said that China has developed a generation of home-grown entrepreneurs in a decade of economic growth. "The view that Chinese don't innovate is something that needs to change," he said. "That's something that's already changing in the mobile internet area. You get to a certain point where when you have a number of small changes, they accumulate, and they lead to something new."

Both investors disagreed with a commonly held view of Chinese companies: that they excel at reproducing existing products more cheaply. Today, Zhang said, China produces real innovation. He has invested in WeChat, a messaging platform with more than 500 million users in China. The company has now expanded beyond the mainland to Indonesia and includes mobile person-to-person payment features. Chinese digital products, he said, are finding new ways to flourish abroad.

"Today, innovation is being exported from China," Zhang said. "In emerging markets, people are trying all kinds of ways to get connected. There are so many ways that people are using commerce through social products. China has become a magnet for innovation."

By Yale School of Management


Topic: Press release summary Sectors: Exchanges & Software, Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 

Latest Press Releases
The On-Site Meeting of 'Beautiful Countryside Construction - Qianwan Project' Held in Jiande, Hangzhou  
Dec 4, 2022 18:00 HKT/SGT
Palladium One Announces Increase in Brokered Private Placement Financing from C$3 million to C$4.2 million  
Dec 3, 2022 07:00 HKT/SGT
Startups rapidly emerging from Central Japan - local entrepreneurs explain why  
Friday, December 2, 2022 11:00:00 PM
Startups rapidly emerging from Central Japan - local entrepreneurs explain why  
Friday, December 2, 2022 11:00:00 PM
Malaysian Investors take part in Indonesia Investment Forum in Penang  
Dec 2, 2022 21:00 HKT/SGT
Revealing crystal structures robotically  
Dec 2, 2022 20:00 HKT/SGT
GobizKOREA Releases a Virtual Exhibition Platform - Gobiz Town  
Dec 2, 2022 20:00 HKT/SGT
Entrepreneur Day and Start-up Express help innovators adapt to the post-pandemic era  
Dec 2, 2022 19:00 HKT/SGT
Business of IP Asia Forum sheds light on Global IP business opportunities  
Dec 2, 2022 19:00 HKT/SGT
Blockpass releases crypto's first Unhosted Wallet KYC  
Friday, December 2, 2022 1:00:00 PM
More Press release >>
 Events:
More events >>
Copyright © 2022 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575