David Solomon says there are concerns about cashing out of investments in the country
Goldman Sachs’ chief executive has warned that global investors are still “predominantly on the sidelines” over deploying capital in China because of weak consumer confidence and difficulties getting money out of the country. David Solomon said investors “continue to be concerned” about cashing out of investments in the world’s second-largest economy.
“Clearly the name of the game here is to reignite consumer confidence and that’s something that takes a while to take hold, but we’re seeing some green shoots.” The conference is a sign of HKMA’s sway over global financial institutions even as US-China relations fray. The annual event is attended by the biggest names on Wall Street, in part because the HKMA oversees hundreds of billions of dollars and is a valuable client and limited partner of many of the institutions.
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