On August 28, AmCham China hosted an exclusive briefing on China’s economic outlook for Chairman’s Circle members. Held in Beijing, the event featured Helen Qiao, Managing Director, Chief Greater China Economist, and Head of Asia Economics Research at BofA Global Research, as the keynote speaker. The briefing provided a platform for senior executives to understand the evolving economic landscape in China and the implications for businesses and investors.
The briefing explored several critical aspects of China’s current economic situation:
Economic Growth and Policy Easing: There is a need for enhanced support for both consumption and investment to maintain growth momentum. Given the external challenges, such as increasing protectionist measures affecting Chinese exports, further policy easing was seen as essential to sustain economic growth and potentially maintain the GDP growth forecast of 5%.
Domestic Demand and Inflation: Weaker domestic demand has led to minimal inflationary pressure. This scenario allows for accommodative financial conditions, providing the government with more flexibility in implementing supportive economic measures.
Currency and Exchange Rate Outlook: Addressing ongoing pressures for potential depreciation of the Chinese Yuan. Such pressures could continue until there is a reduction in interest rates by the Federal Reserve, which could help reverse the strong dollar trend.
Speaker Bio: Helen Qiao is a managing director and chief economist for Greater China and head of Asia Economics Research at BofA Global Research, based in Hong Kong. Prior to that, Qiao spent more than six years at Goldman Sachs as senior China economist and four years at Morgan Stanley as chief Greater China economist. Previously, she worked at the World Bank Group (International Bank for Reconstruction and Development) in Washington DC and Lehman Brothers in Tokyo. Qiao has written a wide range of thematic research papers on China. Her work has been published in media and in academic journals, such as The Journal of Policy Modeling. Her team has been ranked top-three in the Institutional Investor All Asia research team surveys in 2013-2018 consecutively and No.1 in Asia economic research in the Institutional Investor Global Fixed Income survey in 2019. Her team has been ranked top 4 in the Institutional Investor All Asia research team surveys in 2013-2023. Consecutively, top 2 in Asia economic research in the Institutional Investor Global Fixed Income survey in 2019-2023, and No. 1 in institutional Investor Survey China (international) in 2023. Qiao holds a BA degree in international trade from the Renmin University of China, and Masters degree and a PhD in economics from Stanford University. Qiao is currently serving as a member on the Advisory Council of Bretton Woods Committee, which works to demonstrate the value of international economic cooperation and spur economic growth, alleviate poverty, and improve financial stability. She is based in Hong Kong.
Thank you to Helen Qiao and Bank of China for supporting this informative event and providing valuable insights into the current and future state of China’s economy. We would also like to thank our esteemed Chairman’s Circle member companies for their ongoing support and active participation of the Chamber, which greatly contributed to the success of these exclusive events.
About Chairman’s Circle
Members of the exclusive Chairman’s Circle enjoy enhanced leadership status within the chamber and business community, receive advanced business intelligence, access, influence, and exposure for their business.
Playing a leading role in US-China relations, AmCham China provides Chairman’s Circle members with a unique platform to promote their companies, access senior leaders in Washington, DC and Beijing, directly influence bilateral policy, and improve the overall business environment in China.
To learn more about the benefits and how to join Chairman’s Circle click here or contact Aisha.
