Singapore’s Temasek ‘still excited’ about China
SINGAPORE: Singapore’s giant state investment firm Temasek Holdings is “still excited about the China market”, a senior executive said, even as investing in the world’s No. 2 economy has become more challenging amid a slowdown and tension with the WestWest.
Speaking at the Milken Institute Asia Summit in Singapore yesterday, Temasek’s head of China, Yibing Wu, said he sees attractive opportunities in China in areas such as advanced manufacturing and energy transition.
“While people tend to look at the weakness in the traditional sectors such as the traditional manufacturing or real estate, and then people tend to overlook that these emerging sectors,” Wu said.
China makes up 22% of the portfolio of Temasek, which is ranked among the top 10 investors in the world with net portfolio value of S$382 billion (RM1.3 billion) as at March 2023, according to its website. Its investments include Chinese e-commerce firm JD.com , tech giant Alibaba and China Construction Bank.
Meanwhile, Singapore sovereign wealth fund GIC is “doubling down” on certain sectors in China that it likes, said CEO Lim Chow Kiat.
“We think China is definitely investable,” he said at the same summit. “For example, there are certain sectors in China which are world leading, green technology.”
China has been losing its shine among global investors, weighed by the nation’s faltering economic recovery and tensions with the US.
China’s authorities in recent weeks have rolled out a series of measures, such as easing borrowing rules, to support its debt-riddled property sector, which has been on a downward spiral since 2021.
Yesterday, Financial News, a publication run by the People’s Bank of China (PBOC) said the central bank will boost demand and support a modest rebound in prices.
The PBOC will ramp up its coordination with fiscal and industrial policies and strengthen the guidance of expectations, while closely monitoring the effects of financial policies, the unnamed official was quoted as saying.
The central bank “will create an appropriate monetary and financial environment to promote effective demand in the real economy, support a moderate recovery in prices and enhance economic vitality,” the official said. – Reuters
SINGAPORE: Singapore’s giant state investment firm Temasek Holdings is “still excited about the China market”, a senior executive said, even as investing in the world’s No. 2 economy has become more challenging amid a slowdown and tension with the WestWest.
Speaking at the Milken Institute Asia Summit in Singapore yesterday, Temasek’s head of China, Yibing Wu, said he sees attractive opportunities in China in areas such as advanced manufacturing and energy transition.
“While people tend to look at the weakness in the traditional sectors such as the traditional manufacturing or real estate, and then people tend to overlook that these emerging sectors,” Wu said.
China makes up 22% of the portfolio of Temasek, which is ranked among the top 10 investors in the world with net portfolio value of S$382 billion (RM1.3 billion) as at March 2023, according to its website. Its investments include Chinese e-commerce firm JD.com , tech giant Alibaba and China Construction Bank.
Meanwhile, Singapore sovereign wealth fund GIC is “doubling down” on certain sectors in China that it likes, said CEO Lim Chow Kiat.
“We think China is definitely investable,” he said at the same summit. “For example, there are certain sectors in China which are world leading, green technology.”
China has been losing its shine among global investors, weighed by the nation’s faltering economic recovery and tensions with the US.
China’s authorities in recent weeks have rolled out a series of measures, such as easing borrowing rules, to support its debt-riddled property sector, which has been on a downward spiral since 2021.
Yesterday, Financial News, a publication run by the People’s Bank of China (PBOC) said the central bank will boost demand and support a modest rebound in prices.
The PBOC will ramp up its coordination with fiscal and industrial policies and strengthen the guidance of expectations, while closely monitoring the effects of financial policies, the unnamed official was quoted as saying.
The central bank “will create an appropriate monetary and financial environment to promote effective demand in the real economy, support a moderate recovery in prices and enhance economic vitality,” the official said. – Reuters
