China's economic reforms and the yuan's expanding global footprint are positioning the country for robust long-term growth, Standard Chartered's International President Benjamin Hung stated during an interview at the 2026 World Economic Forum in Davos. Speaking to CGTN's Yu Bokun this week, Hung emphasized how China's sustained market opening aligns with broader trends in currency internationalization.
"The strategic integration of China's financial systems with global markets creates mutual benefits," Hung noted, highlighting cross-border investment flows reaching record levels in early 2026. Analysts observe that the yuan now accounts for 7.9% of global trade settlements, doubling its share since 2020.
Hung's comments come as multinational corporations announce $42 billion in new manufacturing and tech investments across the Chinese mainland this quarter. The executive specifically cited streamlined regulations for overseas investors and green finance initiatives as key growth accelerators.
With APEC members preparing for October's regional trade negotiations, economists predict China's focus on digital infrastructure and renewable energy partnerships will dominate discussions. The World Bank recently revised its 2026 GDP growth forecast for China upward to 5.1%, citing stronger-than-expected consumer demand.
