Major Taiwanese news network Liberty Times Network (LTN) recently reported that Goldman Sachs Chief Executive David Solomon said global investors are still “holding a wait-and-see attitude” about deploying funds in China due to weak consumer confidence and difficulties in remitting funds out of China.
Solomon made the comment attending the annual “International Financial Leaders Investment Summit” in Hong Kong. He pointed out that investors have been worried about how to convert their investments in China into cash. “It has been very difficult to remit funds out of China in the past five years. I think there are a series of problems,” said Solomon.
Morgan Stanley CEO Ted Pick, who attended the same event, said he agreed with Solomon. He also expressed the belief that policy transparency is important. Jeffrey Perlman, CEO of U.S. Warburg Pincus, attended the AVCJ Private Equity Forum also held in Hong Kong. He echoed the sentiment that after his company withdrew from investment last year, it was “very challenging” to move US$1 billion out of China.
Source: LTN, November 21, 2024
https://ec.ltn.com.tw/article/paper/1678213