Source: CNBC
Industrial giant General Electric (GE) is committed to weathering China's restructuring, Vice Chairman John Rice told CNBC on Tuesday.
"As that huge market reforms, we should expect more uncertainty ... Does it change the way we think about China or our investments in China or the nature of what we do in China? The fact is that it doesn't," Rice said on the sidelines of the Australian Financial Review Business Summit in Melbourne.
Industrial giant General Electric (GE) is committed to weathering China's restructuring, Vice Chairman John Rice told CNBC on Tuesday.
"As that huge market reforms, we should expect more uncertainty ... Does it change the way we think about China or our investments in China or the nature of what we do in China? The fact is that it doesn't," Rice said on the sidelines of the Australian Financial Review Business Summit in Melbourne.
China is one of the top markets for GE's technology infrastructure business, Rice said.
"There's definitely lower GDP rates globally … but there are still opportunities and pockets of growth … If you're in the infrastructure businesses, you've got make sure that you've got financing, you have to have a sharper pencil to make all of this work out," he said, adding that the growth targets recently announced by China implied "a little bit more uncertainty than (what) we've seen in the past."
"There's definitely lower GDP rates globally … but there are still opportunities and pockets of growth … If you're in the infrastructure businesses, you've got make sure that you've got financing, you have to have a sharper pencil to make all of this work out," he said, adding that the growth targets recently announced by China implied "a little bit more uncertainty than (what) we've seen in the past."
At the National People's Congress in Beijing this month, Chinese authorities announced that they aimed to grow the economy by 6.5 to 7 percent in 2016. China's growth slowed to a 25-year low of 6.9 percent in 2015.
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