Goldman Sachs Chairman David Solomon:坚持长期深耕中国战略

● Staff Reporter Zan Xiuli

“During this visit to China, I once again feel that global investors’ interest in China is experiencing a new wave of enthusiasm. The process of communicating plans with clients, engaging in dialogues with local investors, and listening and learning deeply allows me to exchange ideas about China’s economic situation with international investors during subsequent global visits,” said David Solomon, Chairman and CEO of Goldman Sachs Group, recently.

When asked by Chinese securities reporters about “Goldman Sachs’ investment plans in China,” Solomon said that the recent performance of the Hong Kong stock market has been particularly outstanding, with a significant acceleration in IPO pace and a synchronized rebound in corporate financial advisory demand. Against the backdrop of continuous vitality in Chinese domestic enterprises and accelerated technological innovation in frontier fields such as artificial intelligence, a number of tech companies are growing rapidly, bringing more opportunities for Goldman Sachs’s investment banking business in China. Through Goldman Sachs ICBC Wealth Management, Goldman actively participates in opportunities in China’s wealth management market. In the long term, Goldman Sachs is optimistic about the opportunities brought by the continued development and opening of the Chinese market, and will deepen its presence in China steadily and promote business development.

Highly Focused on China’s Economic Development

“Over the past 20 years, I have visited China almost every year, often multiple times in a year. Over these years, I have witnessed China’s leapfrog industrial development and seen continuous technological innovation. Throughout my career at Goldman Sachs, the firm has always been deeply involved in the Chinese market, and I have always paid close attention to China’s economic development,” he said.

He stated that by 2025, China’s economy is expected to successfully achieve its established growth targets, which is quite constructive. Optimizing the economic structure and expanding consumption will further enhance the stability and sustainability of China’s economic operation.

During exchanges with government departments and Chinese business leaders, Solomon observed that all parties are actively promoting economic restructuring and rebalancing, steadily increasing the proportion of consumption in the economy. “In the next decade, China’s economic growth momentum is expected to gradually shift toward consumption, and the service economy will become an important support for growth,” Solomon said.

Based on this judgment, he believes that with changes in China’s demographic structure, healthcare services will be a major development direction. Looking ahead, Solomon reiterated that Goldman Sachs will continue to analyze China’s economic development trends and adhere to a long-term strategy of deepening its presence in China.

Supporting Expansion of Investment Banking Business in China

“Goldman Sachs’s business in China is particularly prominent in various investment banking areas. The recent positive performance of the Hong Kong stock market, with a significant acceleration in IPO pace and a rebound in corporate financial advisory demand, is bringing a new round of growth opportunities for our related businesses,” Solomon told Chinese securities reporters.

He believes that China’s economy is currently continuing to release vitality. Domestic companies, especially in frontier fields such as artificial intelligence and digital economy, are growing rapidly. This also provides important support for Goldman Sachs to further expand its investment banking business in China.

Against the backdrop of the sustained growth of China’s wealth management market, Goldman Sachs Asset Management and ICBC Wealth Management’s joint venture wealth management company, Goldman Sachs ICBC Wealth Management, is closely aligning with Chinese individual investors’ asset allocation needs, creating value-added products for them.

“Goldman Sachs always pays close attention to the scale, development areas, and market trends of China’s economic development, and will develop its business here in the long term,” he said.

Chinese Stock Market Is Attractive

Regarding global investment strategies, Solomon believes that from a relative valuation perspective, compared to other major markets worldwide, China’s stock market remains attractive. The specific performance depends on the realization of economic growth trends and corporate earnings expectations.

For asset allocation strategies tailored to different groups, Solomon offered specific advice: young people in their twenties and thirties, being in a period of income growth, can appropriately increase their allocation to equities to accumulate wealth through long-term investments; individual investors approaching retirement need to adjust their asset structure to shift toward more conservative allocations.

He stated that gold’s hedging properties are prominent but lack long-term appreciation momentum, making it more suitable for traders to grasp phase-specific market opportunities.

“Goldman Sachs has long been committed to the Chinese market and remains steadfast in developing its China business. The development of China’s capital markets and a series of opening-up measures are very encouraging. I look forward to seeing the continued rapid development of the onshore market,” Solomon said.

“Global investors want to see China’s economic structure become more balanced and market openness continue to improve,” he believes, which is key to attracting capital inflows.