Asian Spectator

In China, an Unprecedented Economic Transformation

  • Written by ACN Newswire - Press Releases
HONG KONG, Dec 19, 2019 - (ACN Newswire) - Lei Zhang' 02 is investing in Chinese companies during an extraordinary moment in history, he told students at Yale SOM. The country, he said, has been undergoing an economic transformation unlike any other on the planet. The United States, he noted, evolved sequentially through an Industrial Revolution, urbanization, and an information age over nearly 200 years. China is experiencing all three simultaneously.

In China, an Unprecedented Economic Transformation

Left to right: Guolu Qiu, Stephen Roach, Lei Zhang

"China has an unprecedented triple combination. It's all happening at the same time and to a scale of 1.3 billion people," Zhang said. "Think about using the United States as a parallel example, it's like having Carnegie, Rockefeller, J. P. Morgan, and Mark Zuckerberg sitting together in the same room, in the same decade, building up all the wealth and value at the same time."

Zhang, the president and chief investment officer of Hillhouse Capital Management, spoke as part of a panel discussion with Guolu Qiu, CEO of Gaoyi Asset Management. Stephen Roach, senior fellow at Yale University's Jackson Institute of Global Affairs, moderated the conversation, part of the Colloquium in Asset Management. The three explored the environment for investors in China, the trends shaping investments now, and the outlook for asset managers.

Qiu said that China has developed a generation of home-grown entrepreneurs in a decade of economic growth. "The view that Chinese don't innovate is something that needs to change," he said. "That's something that's already changing in the mobile internet area. You get to a certain point where when you have a number of small changes, they accumulate, and they lead to something new."

Both investors disagreed with a commonly held view of Chinese companies: that they excel at reproducing existing products more cheaply. Today, Zhang said, China produces real innovation. He has invested in WeChat, a messaging platform with more than 500 million users in China. The company has now expanded beyond the mainland to Indonesia and includes mobile person-to-person payment features. Chinese digital products, he said, are finding new ways to flourish abroad.

"Today, innovation is being exported from China," Zhang said. "In emerging markets, people are trying all kinds of ways to get connected. There are so many ways that people are using commerce through social products. China has become a magnet for innovation."

By Yale School of Management

Copyright 2019 ACN Newswire. All rights reserved. www.acnnewswire.com

Authors: ACN Newswire - Press Releases

Read more //?#

Hertz Business as Usual in Asia

Singapore, May 24, 2020 /PRNewswire-AsiaNet/ -- Recently, Eoin MacNeill, Hertz's Vice President, APAC made the following comments to reinforce that it is business as usual for Hertz in Asia:...

ZALL Group Donates 1 Million Surgical Masks to Singapore Red Cross (SRC)

SINGAPORE, May 23, 2020 - (ACN Newswire) - China-based ZALL Group (ZALL) has donated one million surgical masks to the Singapore Red Cross (SRC). The shipment arrived in Singapore yesterday...

Safe Spacer(TM) Wearable Social Distance Monitor/Alarm Helps K...

MODENA, Italy, May 23, 2020 /PRNewswire-AsiaNet/-- Safe Spacer(TM) is a lightweight wearable device that helps workers and visitors to maintain safe social distancing, enabling workplaces an...

Chinese Singer FAN Chengcheng's New Single "Can't Slow Down" R...

BEIJING, May 22, 2020 /PRNewswire-AsiaNet/ -- Chinese singer FAN Chengcheng just unveiled an English-lyrics single "Can't Slow Down". This first release by FAN Chengcheng and Rock Forward En...

Zoomlion Produces the World's First Pure Electric Truck Crane,...

CHANGSHA, China, May 22, 2020 /PRNewswire-AsiaNet/ -- The world's first pure electric-powered truck crane "ZTC250N-EV", developed and produced by Zoomlion Heavy Industry Science & Techno...

Construction Expert Breezecoin (BRZE) Expands Further, Listed on CoinTiger Crypto Exchange

UK, May 22, 2020 - (ACN Newswire) - Breezecoin (BRZE), a real estate-backed cryptocurrency issued by Breeze de Mar, which is a real estate company with over 60 years of experience in the fi...

China's Shandong province to continue improving the business e...

JINAN, China, May 22, 2020 /PRNewswire-AsiaNet/ -- On May 8, the Information Office of The Shandong Provincial People's Government held a press conference to explain and provide further clar...

M17 Announces Sale of Paktor Dating Assets

TAIPEI, May 22,2020/PRNewswire-AsiaNet/-- M17 to focus on live streaming in Japan and new markets while Paktor will continue to develop the dating business in SEA M17 Entertainment Ltd., the...

Suprema announces Suprema Europe SARL to reinforce regional presence

SEOUL, KOREA, May 22, 2020 - (ACN Newswire) - Suprema, a global leader in access control and biometrics for physical security, officially announces the formation of Suprema Europe SARL, whi...

Gudou Holdings Limited Embark on Revitalisation and Transformation

Integrate with the Online New Retail ModelOpen up New Dimension to Broaden the Customer BaseHONG KONG, CHINA - Media OutReach - 22 May 2020 - Gudou Holdings Limited ("Gudou ...

Gudou Holdings Limited Embark on Revitalisation and Transformation

Integrate with the Online New Retail ModelOpen up New Dimension to Broaden the Customer BaseHONG KONG, CHINA - Media OutReach - 22 May 2020 - Gudou Holdings Limited ("Gudou ...

Chinese firm CECEP Solar Energy Technology (ZhenJiang) explore...

ZHENJIANG, China, May 22, 2020 /PRNewswire-AsiaNet/ -- -Addressing the new challenges created by COVID-19 through innovation-CECEP Solar Energy Technology (ZhenJiang) Co., Ltd. has establish...

Nippon Express (UK) Receives WDA and GDP Certification for Com...

TOKYO, May 22, 2020 /Kyodo JBN/ AsiaNet/ -- Nippon Express (UK) Co., Ltd. (hereinafter, "NEUK"), a local subsidiary of Nippon Express Co., Ltd. based in Tokyo, has been officially granted Wh...

Join the 3rd Annual POWER WEEK AFRICA in Johannesburg, South Africa

JOHANNESBURG, SOUTH AFRICA, May 22, 2020 - (ACN Newswire) - Are you ready for the new challenges & opportunities as power markets around the world evolve?Specially designed for the Afri...

CNN International to Broadcast Turner Sports' Exclusive Presen...

HONG KONG, May 22, 2020 /PRNewswire-AsiaNet/-- -Tiger Woods & Phil Mickelson Joined by Peyton Manning & Tom Brady in Blockbuster Live Golf Event Held Monday, May 25, at 3 a.m. HKT -E...

Indulgence Awaits at The Ritz-Carlton, Bali

BALI, Indonesia, May 22, 2020/PRNewswire-AsiaNet/-- There is no better time than now to start planning the next luxury holiday when it's time to travel again. The Ritz-Carlton Bali [https://...

Komatsu America Corp. Motion Appealed to United States 9th Circuit Court of Appeals

LAS VEGAS, NV, May 22, 2020 - (ACN Newswire) - The United States Federal Court Judge overseeing the lawsuit between plaintiff Environmental Transportation of Nevada, LLC (ETON) and defendan...

Teledyne e2v Develops High-Speed Data Conversion Platform to Accompany Latest Xilinx FPGAs

GRENOBLE, FRANCE - Media OutReach - 22 May 2020 - In response to the ongoing advances in programmable logic technology, Teledyne e2v has made further enhancem...

Youth With You 2 Mentor Cooperation Stage Will Open, iQIYI Concentrates on Creating High-quality Content

BEIJING, CHINA - Media OutReach - 22 May 2020 - Last week, iQIYI original hit variety show "Youth With You 2" released its third ranking, and 20 trainees got tickets to the finals...



News Company Media Core

Content & Technology Connecting Global Audiences

More Information - Less Opinion