China stimulus yet to sway long-term investors, bankers say

Goldman Sachs, PAG and UBS execs see hesitancy despite 'green shoots'

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Several international bankers told a forum that although China's economy is showing signs of recovery, many long-term investors are staying on the sidelines. © Reuters

ECHO WONG, Nikkei staff writer

November 22, 2024 11:50 JST

HONG KONG -- China's string of economic stimulus measures sparked a rush back into its stock market, but private equity and other long-term investors remain wary, prominent players say.

Goldman Sachs Chief Executive David Solomon and Chris Gradel, co-founder of top Asian private equity group PAG, said this week that such investors are largely sitting out for the time being. They gave this assessment in separate panel discussions at a banking summit hosted by the Hong Kong Monetary Authority and aimed at shoring up the city's position as a financial hub.