At the World Economic Forum in Davos this week, Standard Chartered's Asia CEO Benjamin Hung highlighted China's strategic shift toward sustainable economic development, emphasizing quality over quantitative targets in 2026. The remarks came during a discussion with CGTN's Yu Bokun, where Hung explained the bank's recent decision to upgrade its growth forecast for the Chinese mainland.
"What we're seeing in 2026 is a maturing economy making deliberate choices," Hung stated, pointing to advancements in green technology adoption and digital infrastructure expansion. "The focus on high-value manufacturing and domestic consumption aligns with global trends toward economic resilience."
The revised projections come as China implements policies to boost innovation-driven industries while managing property market adjustments. Hung noted increased interest from overseas investors in renewable energy projects and advanced manufacturing sectors, particularly in the Yangtze River Delta and Greater Bay Area.
For business professionals monitoring Asia's markets, Hung identified semiconductor self-sufficiency initiatives and cross-border e-commerce platforms as key growth drivers. He cautioned, however, that global inflation patterns and evolving trade relationships require careful navigation throughout 2026.
Academic observers will find particular significance in Hung's analysis of regional development strategies, including digital yuan integration across ASEAN partnerships and workforce upskilling programs in secondary cities.
