Asia's Wealthy Bet on China's Long-Term Growth Despite Short-Term Challenges

Asia's affluent and their bankers remain optimistic about China's eventual recovery and its role in driving regional growth. Despite short-term market challenges, the long-term view is positive due to megatrends in Asia and steady foreign investments. Other Southeast Asian nations like Vietnam and Malaysia also present growth opportunities.

Asian millionaires and their financial advisors are expressing confidence in China's potential for recovery, even amid current economic downturns. At the Reuters NEXT conference in Singapore, DBS Group CEO Piyush Gupta emphasized the importance of a long-term outlook, predicting China will bounce back from its property market crisis to drive regional growth.

Despite ongoing market challenges, including a five-month low in China's CSI 300, experts remain bullish. Stefanie Holtze-Jen of Deutsche Bank Private Bank highlighted the skepticism from U.S. investors but noted that local ultra-high-net-worth individuals see the central government's pro-growth agenda and anticipate future foreign capital inflows.

Southeast Asia, particularly Vietnam and Malaysia, is also attracting attention due to favorable demographic and political trends. Foreign direct investment remains robust, and major players like China International Capital Corp are planning significant expansions in the region.

(With inputs from agencies.)