GCC 2021 Wrap Up
The UBS Greater China Conference 2021 took place between January 11th and 15th, featuring a packed schedule of presentations from sector experts and thought leaders from across the world. Here are the standout points.
Sustaining the future: China's new blueprint for growth
Titled ‘Sustaining the future: China's new blueprint for growth’ this year’s conference focused on a wide range of aspects of China’s long-term growth story, including the ongoing resilience of the China consumer, the shift to sustainable growth, the rise of innovation, and the outlook for US/China relations.
China: ongoing recovery and opening up
UBS President Axel Weber opened the conference with a speech that highlighted China’s ongoing recovery, the long-term opportunities that will come from further opening up of the economy as detailed in China’s most recent five-year plan, and the prospects for China’s economy to overtake the US as the world’s largest economy by the end of the decade..
US/China: healthy competition, unnecessary confrontation needed
Moving onto the relationship between the US and China, Henry M. Paulson, Chairman, the Paulson Institute; and ex-US Secretary of the Treasury, remarked that the relationship between the two countries must be a strategic priority for the incoming US administration and spoke about the importance of building a relationship on healthy competition without unnecessary confrontation.
China rebound to continue in 2021; policy normalization and enhanced focus on carbon neutrality
UBS China Economist Tao Wang led a series of sessions that looked specifically into the 2021 outlook for China’s economy. Key takeaways were: China will likely see 8-9% growth in 2021, but slower growth subsequently; policy will normalize in 2021; and that carbon neutrality will emerge as a long-term strategic theme in policy making.
UBS-AM: Suni Harford keynote and in-depth sessions on China equities & fixed income
UBS-AM featured prominently. Suni Harford, UBS-AM President, opened proceedings on Wednesday January 15th with a keynote that: analyzed what it will take for sustainable and impact investing to become mainstream, explored prospects for ESG in China, and outlined UBS-AM’s China strategy.
Following on, Bin Shi, Head of China Equities, Adolfo Oliete, Head of Asia Pacific Investments, Hedge Fund Solutions and Jia Tan, Portfolio Manager, UBS O’Connor joined a session moderated by Donna Kwok, Head of Asia Pacific Strategy, that explored the alpha opportunities in China’s equity markets from structural and thematic perspectives. Read the session summary here.
The final Hayden Briscoe, Head of Fixed Income, Asia Pacific led a panel featuring Adrian Zuercher, Head of Global Asset Allocation, UBS Chief Investment Office; Tom Becket, CIO, Punter Southall Wealth; and Brian Huang, Senior Credit Analyst at UBS-AM that looked at China fixed income from a rates and credit perspective. The session highlighted current opportunities from a yield perspective and also from recent market reforms. Read the session summary here.
In conclusion, this year’s conference outlined the profound structural changes happening in the world economy, China’s place in the world, and the rich near- and long-term investing opportunities available to investors. Amid these trends, UBS-AM continues to press ahead with its plans to ensure that it remains the ‘First Call for China’ for clients around the world.
