The global economy is projected to expand at 6.1 percent in 2021. In particular, as China's economic fundamentals are strong, global investors remain optimistic about its growth, reported the Xinhua-run cnstock.com by citing Mark Matthews, head of research for Asia at Julius Baer Group, on Tuesday.
Julius Baer Group, a leading Swiss private banking group, expected that China's GDP growth rate will be in a range of 8-9 percent in 2021, and slow to 5.4 percent in 2022.
Matthews believed that Chinese stock prices are generally not very high. High-quality companies that perform well will be attractive to investors in the next five years, with sectors like technology and consumption especially popular.
"Global investors remain bullish on China's economy because of the growing number of consumers and the vigorous development of digital economy," said Matthews.
U.S. economy is expected to expand at 6.5 percent in 2021 and 4.1 percent in 2022, said Matthews.
"In the long run, investing is better than keeping wealth in the form of cash," said Matthews, who revealed that Julius Baer's portfolio includes 53 percent in stocks, 37 percent in bonds, 5 percent in other investments and 5 percent in cash at this time.