Financial company AIA retains a positive outlook on China, driven by its long-term structural growth and commitment to open up financial markets to foreign investors, despite its recent regulatory changes, group CIO Mark Konyn said.
But he viewed these regulatory changes as a transitionary phase, with long-term sentiment intact on the liberalisation of China's financial system. Chinese stocks and sentiment took a drubbing with Communist Party rulers seeking to remake the property, technology and education sectors to curb cost pressures and better serve ordinary people.
Meanwhile, Konyn expected inflation to be transitory and the U.S. Federal Reserve to announce its stimulus withdrawal plan by November or December this year, but he did not see markets reacting to that in a 2013-style taper-tantrum.
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