CEO of private equity major Blackstone Stephen Schwarzman said that he sees good long-term opportunities in China.
The recent economic slowdown in China was milder than expected and the next meeting of China’s ruling Communist Party could result in very substantial reforms, Schwarzman said in an interview with Bloomberg.
He also revealed that Blackstone is investing in property projects in the country including distribution centres and a skyscrapers in Shanghai.
Schwarzman said, “The Chinese economy has not done what a number of commentators thought it would, which was really slow down enormously.
“China is a really good long-term bet. They have smart leaders, they make decisions, they address questions.”
Earlier this month, Blackstone completed a $625m take-private deal for Chinese technology company Pactera.
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