Morgan Stanley CEO optimistic about China’s economy

Beijing, Nov 30 (IANS) The head of Morgan Stanley maintained his positive outlook on the Chinese economy despite a continued slowdown amid lackluster domestic demand and rising external uncertainties.

The growth rate is down but the increase is still enormous and China’s contribution to global economy remains the highest of any other countries in the world, Xinhua quoted James P. Gorman, chairman and CEO of the leading global investment bank, as saying on Sunday.

The economy expanded at 6.9 percent year on year in the first three quarters of 2015, down from seven percent in the first half and marking the lowest reading since the second quarter of 2009.

The lingering slowdown has triggered market worries about the economic outlook.

However, Gorman dismissed the concerns. “The market gets obsessed by percentages. Is China growing at six, seven, eight or ten percent?” he said the economic transition is more significant than growth pace.

A pioneer in exploring the Chinese market, the global leading investment bank still regards China as a major impetus for its international business.

A latest Morgan Stanley report said China’s reforms and opening up policies, especially those in tertiary sector, will generate more business opportunities in health care, internet and technologies.

The bank maintained its annual GDP growth forecast for the full year at seven percent and expects mild improvement in the next several months thanks to pro-growth measures including fiscal and monetary easing.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here