The growth drivers and downward pressure that China faced last year are going to change in 2022, and the Chinese market will continue to attract international companies this year, said UBS experts when talking about China's economic outlook in 2022.
"We see that infrastructure investment is set to rebound. That's going to offset, in large part, the slowing property investment. We see consumption weak in the first quarter [of 2022] but subsequently recover," said Wang Tao, chief China economist and head of Asia Economics of UBS at the UBS Greater China Conference (GCC) held in Shanghai.
Wang also expected exports to contribute positively to growth this year.
"On the export side, it's going to be slow but still robust because of the strength in China's supply chain. On the consumption side, the recovery really is going to depend a lot on COVID policies, and of course, related the labor market situation and confidence," Wang said.
Also at the forum, Geoffrey Wong, head of Global Emerging Markets and APAC Equities, UBS Asset Management, said global investors will not miss the chance of investing in China, though they should be aware of some macro issues.
"China produces the most technical stuff in the world ... and that's having a direct impact from an investment perspective. It's also been the biggest source of IPOs together with the U.S. over the last few years," Wong said.