Lenovo has expressed cautious optimism that the new Chinese leadership’s economic policies will help the country remain a global economic motor despite short-term pressures on growth.
“I’m reasonably optimistic in the medium term given the Chinese government’s plans . . . that we will see domestic consumption picking up,” Wong Wai Ming, Lenovo’s chief financial officer, told the Financial Times in an interview.
He cited urbanisation as one reason for hope. Premier Li Keqiang has launched a push to urbanise China. The government plans to transform more than 100m peasants into urban residents over the next decade.
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