China Investment Summit, August 31-September 2, 2009
China holds the undisputed position as workshop to the world, but it’s also fast becoming one of the world’s top consumers in its own right. As the global financial crisis approaches its second anniversary, China’s role in pulling the world out of recession is gaining growing attention as cash-rich Chinese consumers spend billions of dollars under their government’s $585 billion economic stimulus plan.
The huge spending spree has helped the Shanghai and Hong Kong stock markets rise more than 70% and 40% this year, respectively, as investors from both home and abroad look to get a piece of an economy set to overtake the United States to become the world’s largest by 2030. Even as the rest of the world suffers in recession, China’s GDP is expected to grow 9.4% this year and 11.9% in 2010, according to Goldman Sachs, which recently upgraded its forecasts for the country. Underscoring the growing clout of its domestic market, China’s retail sales surged 15% in the year to July and urban investment rose 33%, even as July exports tumbled 23% year-on-year.
Reuters China Investment Summit, held in Beijing, Hong Kong, Shanghai and Taipei from August 31 to September 2, will shine the spotlight on a wide range of foreign and domestic Chinese players as they jockey for position in one of the world’s fastest growing markets with 1.3 billion consumers. The interviews will generate exclusive stories and investable insights, as well as other multimedia offerings which will be immediately available only to Thomson Reuters clients during the summit.
