The internet, healthcare and consumer industries will continue to have good business prospects in the coming year, said Shi Bin , managing director for Global Emerging Market and Asia Pacific Equities at UBS Global Asset Management (Hong Kong) Ltd.
In a teleconference on Monday, Shi said the performance of those industries is not strongly correlated with the state of the macro economy. He pointed out that the sectors continued to show strong business growth despite the economic slowdown in recent years.
He said that 2013 and 2014 are two very important years for China’s economic development, although it may not be reflected in the headline GDP growth, which is expected to come in at 7.5 for this year and 7.0-7.5 percent next year. China’s economy can sustain rapid development for 10 to 15 years if structural reforms initiated in these two years are carried out properly, he said.
Shi said the market prospects in China would depend on the progress of economic reform, which is important for marketization and increasing the global competitiveness of mainland firms. The faster the progress, the more opportunities for private businesses, the UBS executive said.
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