China remains attractive destination for global capital despite trade friction
Global Business
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02:26

The outcome of the meeting between the U.S. and China at the G20 Summit signals great progress over trade tensions. The two sides have agreed to a truce in their trade dispute, and the U.S. President Donald Trump said no more additional tariffs on Chinese goods.

While the Annual Meeting of New Champion in Dalian is in full swing, some executives from accounting firms shared their thoughts on China and the U.S. trade tangle. Thierry Delmarcelle, Asia-Pacific chief strategy, and innovation officer at Deloitte, said the latest China-U.S. discussion is a positive sign for the world.

"I do expect the trade discussion between China and the U.S. to keep going on… China is rising as a highly credible competitor in several areas including global supply chain, so this discussion has to happen, an adjustment in the trade relationships between two countries has to happen," he said.

VCG Photo

VCG Photo

While Delmarcelle added that he expected ups and downs along the way, Creditease CEO Tang Ning said China should focus on doing its own things well since China's economy has lots of potentials to keep growing.

"I'm not that concerned. I do see a lot of uncertainties still going forward, but… we do better infrastructure if we build an ecosystem for technology innovation. I think the Chinese economy will be much better [if to do so]," he said.

Jim Yip, head of China capital markets at JLL, holds the same view. He emphasized that Asia is still considered as a growing region with lots of capital flows over the last 12 months. And China is one of the countries in the region that has attracted more investors.

"A lot of capitals want to come into China, and China indeed is a dominant investment destination for all these capitals. China is still an attractive destination for global capital, despite this trade war," he noted.

(CGTN's Xia Cheng also contributes to this story)

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