‘Plenty of Room for Growth’ in China: GE

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.


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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.