China’s economic outlook is top of mind for global CEOs, but most are confident slowing growth will be well-managed and plan to pursue expansion plans in the mainland.
“Slowdown risks aren’t scary at all; it’s expected and a natural evolution in the development of China,” Mark Tucker, group chief executive and president at AIA, Asia’s second-largest insurer by market capitalization, told CNBC on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Beijing on Monday.
“We have a great business here and we’re looking to expand. We’re very excited about the future,” he said.
In an effort to sooth concerns around the health of the world’s second largest economy, Chinese President Xi Jinping over the weekend told a group of business leaders at APEC that risks to the economy are “not that scary”.
He highlighted that if China’s economy were to grow 7 percent, it would still rank at the forefront of the world’s economies.
Commenting on the speech, Tucker said, “[Xi] was very open, clear, progressive, constructive and optimistic, which was a terrific combination.”
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