CITIC Securities executive committee member Li Yongjin said China is in a cycle
of shifting growth drivers. He warned of near-term domestic-demand pressure for
consumption and the pharmaceuticals sector but said the rise of new productive
forces and structural transformation should help stabilise China’s long-term
potential growth. He flagged expanding total consumption and continued
pharmaceutical innovation and internationalisation as clear long-term trends
that sustain identifiable sectoral investment opportunities.
