Hywin Wealth holds annual client conferences at scenic resorts. This year, the leading independent wealth manager of China, has chosen Kunming City, in Yunnan province, to host this multi-day event.
The day started with a small-group roundtable chaired by Madame Dian Wang (pictured below), CEO of Hywin Wealth, during which senior management from VP Bank, Credit Suisse, government policy advisors, and ex-governors of Chinese regulators exchanged thoughts and debated trends.
Selected UHNW clients were invited to this session, and were impressed by the insights and animation of this exclusive session. At 9 am, this group joined the main conference with the 1,400 clients, for a day of presentations and panels, with free flow of premium Pu-er tea, a specialty of Yunnan.
Fan Gang, Director of the National Economic Research Institute of China
«The impacts of the trade war are multifaceted. The uncertainty caused by trade disputes and tariffs is a major negative on investment sentiment, which cannot be underrated,» Fan Gang, Director of the National Economic Research Institute of China, he said. «But the trade war, in a surprising way, acted to accelerate China's reform and opening, he added.
«The headwinds on trade and technology will persist. It's crucial for China to strengthen its domestic markets, which are the best defense against the trade war, and probably the ultimate leverage in resolving it, Gang concluded.
Ren Zeping, Chief Economist of Evergrande Group
«The GDP growth of China in 2020 will be in the 5 percent to 6 percent range. But, external negatives are only part of the reasons. The slowdown of domestic investment, across infrastructure, real estate, and industry has to be reversed to sustain higher growth momentum», Ren Zeping, Chief Economist of Evergrande Group, said.
«Real estate has been a major engine of China's growth. It should not be fueled, but it shouldn't be pierced either,» he added.
John Woods, Head of Research Asia, Credit Suisse
«The relationship between China and the U.S. will be structural competition for the next decade,» John Woods (pictured above), Head of Research Asia, Credit Suisse, «Europe is truly caught up in the global trade turmoils. Germany will be disproportionately hit,» he confessed.
«Real estate and infrastructure are probably the best cushions against external challenges for China. But indebtedness is a key constraint to be tackled,» he added.
Nick Xiao, CEO of Hywin International
«Hywin Wealth is at the forefront of serving Chinese clients' globalization. No other Chinese wealth manager has acquired the capabilities to provide global custody across Asia, EMEA, and North America, and manage investments with equal comfort across developed and emerging markets, Nick Xiao (pictured above, left), CEO of Hywin International, said.
«Hywin has insurance brokerage and trustee expertise in-house, ensuring we deliver succession planning as an integral part of our holisitic services, rather than sporadic referrals to outside providers, causing spillage of client info and complexity in coordination,» he added.
