The Asia Mining Club invites you to a cocktail reception, featuring a presentation and Q&A with CLSA’s highly ranked China and Hong Kong Strategist, Mr Francis Cheung.
Join this event to hear Francis’ views on the outlook for China’s economy as it transitions to a slower, but more sustainable level of growth.
China’s economy is slowing, but this is the necessary price of reform. The mistake was trying to sustain the high growth we have had over the last five years. The government changed its strategy last year as the property bubble burst and declared that China was in the “new normal”, allowing the economy to slow.
China is transitioning from an unsustainable high growth rate of 7.5-8% over the last five years to more sustainable 5-6% growth. The risk is that the economy overshoots on the downside and the government will need to use fiscal and monetary policy to offset this.
Over the last nine months, China has initiated more reforms than it has in the last five years. Services and consumption are the biggest drivers of the economy, not investment. We remain cautious on the market and recommend over-weight services such as internet and healthcare and under-weight investment such as construction and machinery.
Date - 26 Aug 2015 (Wednesday)
Time - 6:30pm - 8:30pm
Venue - Club Lusitano, 27/F, 16 Ice House St.,
Central, Hong Kong
Price - HKD $450.00
Dress code - Business Attire
Francis Cheung has been CLSA’s Head of China-Hong Kong strategy since 2008. Prior to that, he was head of telecoms research at CLSA, a role he held from August 2002. Francis consistently ranks as one of the region’s top analysts in polls conducted in Asiamoney and Institutional Investor. He has also worked at Credit Suisse First Boston, and Merrill Lynch. Prior to banking, Francis worked in the US as a certified public accountant. He has a BSc degree from the University of California, Berkeley and an MBA from the Wharton School of Business.