Zhang Xin, one of China’s most successful entrepreneurs, says that the country needs clear policy direction from the government at its annual October plenary session if it is to rebound from its recent economic slowdown.
Ms Zhang, the billionaire founder of one of the largest property developers in China, believes more privatisation and pro-market reforms are the only way to get the world’s second-largest economy back on track. She said businesses were holding back from making sizeable investments because of “uncertainty” in the Chinese economy and the lack of clarity on economic reform.
Ms Zhang, who runs property company SOHO China with her husband Pan Shiyi, said: “All eyes are on the government . . . No one wants to make capex [capital expenditure] decisions until government policy becomes clear.”