Chinese companies must look abroad, including Saudi Arabia, as domestic economy struggles, venture capitalist says
- Roman Shaw of Detong Capital cited Saudi Arabia and the Middle East in general as an area of opportunity, speaking at a forum on Friday
- Former HKEX CEO Charles Li Xiaojia said Chinese SMEs present a large opportunity for global capital
Chinese enterprises should formulate a global strategy amid the challenging economic environment of China’s slower-than-expected recovery, according to Roman Shaw, a venture capitalist with 20 billion yuan (US$2.8 billion) of assets under management.
Meanwhile, Charles Li Xiaojia, former CEO of the Hong Kong stock exchange, said he is pinning his hopes on global capital flowing into China’s small and medium-sized enterprises.
“The domestic economic environment after three years of the Covid-19 pandemic, although we had higher expectations for the second quarter, turned out to be very challenging,” Shaw, founding partner of Detong Capital, said at the Hong Kong - Shanghai Science and Finance Forum on Friday.
Looking outside China is crucial, as many industries are experiencing fierce internal competition, he said.
“It is very important to develop a global strategy for your business and investments, especially under this environment,” Shaw said.
