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BofAS Expects AI Innovation to Replace Real Estate as New Engine for CN Economy
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Real estate is unlikely to remain a key pillar industry for China's economy over the next 5-10 years, said Winnie Wu, Managing Director, Head of APAC Equity Strategy and Financial Institutions, and Co-Head of China Research at BofA Securities. Instead, growth fueled by innovation is expected to become the new driving force. AI is beginning to impact broader aspects of socio-economic life, Wu stressed. The adoption and application of AI is undoubtedly a major theme shoring up global markets this year. That being said, challenges from the old economy persist during this transition period, and the new economy has yet to become the dominant force in profit growth and job creation. AAStocks Financial News |
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