Foreign investors still optimistic about development prospects of China's economy: experts

Foreign investors are still optimistic about the strong resilience and development prospects of China's economy, with a particular focus on the burgeoning opportunities in high-end manufacturing, technological innovation, and consumption areas that align with the country's economic transformation and upgrading. As of Wednesday, qualified foreign institutional investors (QFII) became the top 10 tradable shareholders with 374 new shares in the second quarter.

At the same time, they also increased their shares in 157 existing shares. The majority of these investments are concentrated in sectors such as chemicals, pharmaceuticals and biotechnology, machinery, and electrical equipment.

"These sectors not only represent short-term growth potential but also possess medium- to long-term competitiveness, which is why they continue to attract attention. More importantly, the pace of capital inflow is relatively stable and not driven by short-term volatility, indicating that foreign investors' confidence in the Chinese market is strengthening and the longevity of their investments is increasing," said Hong Kong investment banker Ronald Wan.

According to research reports from foreign financial institutions, "technological innovation" is a frequently mentioned term in all the reports.

"The vitality of industries, particularly the resilient spirit of entrepreneurs that we observe at the micro level, is evident in various sectors: the domestic replacement of AI-driven computing power, innovations in pharmaceuticals, the rise of humanoid robots, and the next phase of promoting intelligent driving. All these factors showcase China's innovative capabilities and the evolving landscape of industrial competition," said Xing Ziqiang, chief economist at Morgan Stanley China.

The consumption field is also highly favored. HSBC believes that policy support for promoting consumption is expected to continue, maintaining a positive outlook on opportunities in the consumption sector. As the purchasing power of China's Generation Z increases, new consumption trends are expected to present structural growth opportunities in the future.

Foreign investors still optimistic about development prospects of China's economy: experts

The multilateral system is "under attack" amid global turmoil, President of the 80th UN General Assembly Annalena Baerbock warned in her remarks on Wednesday.

In her briefing on the priorities for the resumed 80th Session of the General Assembly, the UNGA president noted that the current multilateral system does not collapse all in a sudden, but "crumbles piece by piece" in divisions, compromises, and lack of political commitment.

The president called all the UN member states to defend the UN Charter and international law and promote cross-regional cooperation.

She also urged to push forward the work of the UNGA on certain critical issues with a strong majority, rather than an absolute consensus among all member states. Such act is not a failure of multilateralism, but "an affirmation of it," she said.

The foundational principles of the institution should not be eroded by appeasement, she said, calling the member states to show courage, leadership, and responsibility at the UN's "critical make-or-break moment."

"The UN needs you. Your support, your leadership, your principle, stand, your cross-regional cooperation, if we are to preserve and modernize this institution, if we are to make it, rather than break it," she said.

UNGA President warns global multilateral system "under attack"

UNGA President warns global multilateral system "under attack"