The Chinese economy still has “plenty of room for growth,” the vice-chairman of GE told CNBC on Wednesday, as he poured cold water on fears of a hard landing in the Middle Kingdom.
“There is plenty of room for growth. If you are in the infrastructure business and you take a long view, you have to bet on China, you have to be a part of it,” Hong Kong-based John Rice said from the World Economic Forum in Davos Switzerland.
The Chinese economy has slowed steadily since 2010. It posted 6.9 percent growth in 2015 on Tuesday, in line with economists’ estimates in a Reuters poll. Growth is seen by the International Monetary Fund at 6.3 percent in 2016 and 6.0 percent in 2017.