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John Zhao, chairman along with chief executive officer of Hony Capital.
The head of one Chinese private equity firm is actually bullish on China’s technology.
“China has the best digital infrastructure, as a sizable economy,” John Zhao, CEO of Hony Capital, said at the China Development Forum in Beijing.
“When I talk about the digital infrastructure, the item’s not just about how many people are internet-users, or will be internet-users. We’re talking about mindset,” he told CNBC’s Eunice Yoon on Saturday.
Chinese “consumers are digitally equipped along with very open to consume digitally,” Zhao said, adding in which the item will be “a very, very powerful driving force. along with in which is actually going to continue to contribute to world’s growth.”
Zhao did not name particular Chinese tech stocks he was investing in, nevertheless said he sees potential within the field of artificial intelligence.
“Some of the best applications are happening here,” he said, claiming in which Chinese border crossings are today “seamless,” thanks to fingerprinting along with facial recognition technology.
According to CB Insights, China received 48 percent of global AI funding in 2017, compared to 38 percent in which U.S. firms garnered in which year.