DWS Group senior executive optimistic in long-term economic success of China

A senior executive of DWS Group, an asset management company under Deutsche Bank, expressed strong confidence in the long-term economic success of China.

Speaking in an interview with China Global Television Network (CGTN), Markus Kobler, the CFO and member of the management board of DWS Group, made the remarks on Friday while he was in Beijing to attend the Annual Conference of the Financial Street Forum 2024, running from Friday to Sunday.

Kobler said China and Germany have much in common as manufacturing powerhouses, noting he is optimistic about the future prospects of Chinese economic growth.

"We are very committed and positive [on] China, we are here and we also want to grow because we believe there's a lot of similarities between China and Germany. There is a strong and close cooperation and dialogue, and cooperation is at the core that the bridge between the two countries works. There are so many challenges in today's world, like climate change, like political conflicts, like aging population, and you can only solve that through close cooperation between the two countries. Management is a long term business. [With] management, you really look ahead 15 to 20 years. So it's not about what's happening the next quarter, or over the next 12 months. And when you look then at what has happened over the past 20 years in China and where China comes from, and you extrapolate that into the future, we strongly believe in the long term future and the economic success of China, otherwise we wouldn't be here today," said Kobler.

He noted that DWS Group is expecting to act as a bridge to boost more financial and economic cooperation between China and Germany.

"DWS Global as a manager that is rooted in Germany, and we have a long history and interest into China. In fact, we are almost 20 years partnering with Harvest (Fund Management) that is Chinese asset manager. And you know the way when we are in Germany looking at China, we see it almost like as a bridge and we want to be the bridge that brings European investors into China but also vice versa," the senior executed said.

DWS Group senior executive optimistic in long-term economic success of China

A strong cold wave has swept through a large part of northern and eastern China since Friday, causing a sharp drop in temperatures in the affected areas. From Thursday evening, the eastern province of Shandong has experienced widespread rainfall, with some areas being hit by downpours.

In Qingdao City, heavy rains caused street water-logging and raised river levels in some areas.

In addition, the sudden temperature decline in Dezhou City has forced local residents to put on heavy coats and gloves.

"It felt colder after the rain yesterday. When I rode my electric scooter out this morning, I had to wear my down jacket and long johns because it was so cold," said a Dezhou resident surnamed Yang.

Meanwhile, north China's Hebei Province is also impacted by the cold air and has seen widespread rainfall and a sudden drop in temperatures. The province issued a yellow alert for cold wave on Saturday, with the lowest temperatures expected to drop by 10 to 12 degrees Celsius in most areas over this weekend.

"It rained all night, and it is so cold today. I put on thick clothes when I went out," said Shao Jianchao, a resident in Hebei's Handan City.

Strong cold wave hits parts of China