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Fred Hu discusses China's economic prospects in exclusive interview


Fred Hu, founder, chairman, and CEO of Primavera Capital Group, joins CGTN’s Guan Xin in an interview at the World Economic Forum's 54th Annual Meetings in Davos, Switzerland. He shared insights into the current state and future potential of the Chinese economy.

Hu emphasized the pivotal role of private sector domestic demand, particularly the consumption of the Chinese middle class, as a primary driver of the economy. He also underscored the importance of a predictable environment to support private sector development and the role of innovation in driving productivity and efficiency gains.

Geopolitical competition between China and the US is a focal point for global investors. Hu expressed concern about the uncertainties arising from these tensions but also highlighted the potential for collaboration, especially in areas such as climate change.

Regarding China's longer-term economic development priorities, Hu mentioned the need for more efficient capital allocation, progress in financial markets, and the importance of technological innovation as a driver for productivity and efficiency gains. He also highlighted opportunities for investment and entrepreneurship in areas such as artificial intelligence, climate action, and healthcare.

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