Xinhua
The global economy was projected to expand at 6.1 per cent in 2021, in particular, as China’s economic fundamentals are strong, global investors remain optimistic about its growth.
This is contained in a report by the Xinhua-run cnstock.com by citing Mark Matthews, head of research for Asia at Julius Baer Group.
Julius Baer Group, a leading Swiss private banking group, expected that China’s GDP growth rate would be in a range of 8-9 per cent in 2021, and slow to 5.4 per cent in 2022.
Matthews believed that Chinese stock prices are generally not very high, high-quality companies that perform well would be attractive to investors in the next five years, with sectors like technology and consumption especially popular.
“Global investors remain bullish on China’s economy because of the growing number of consumers and the vigorous development of digital economy,” said Matthews.
U.S. economy was expected to expand at 6.5 per cent in 2021 and 4.1 per cent in 2022, said Matthews.
“In the long run, investing is better than keeping wealth in the form of cash,” said Matthews, who revealed that Julius Baer’s portfolio includes 53 per cent in stocks, 37 per cent in bonds, 5 per cent in other investments and 5 per cent in cash at this time.
