Despite a slowdown in growth and trade tensions, there are “enormous” and “stunning” opportunities in China, particularly in Fintech, an investment manager said Tuesday.
“We love the fintech sector in China today,” Glenn Youngkin, co-CEO at Carlyle Group, told CNBC’s “Squawk Box Europe.”
“We think it offers an enormous growth opportunity. The Chinese economy is growing, it’s growing at the fastest pace in the world, the Chinese consumer is growing faster than any consumer in the world, and any evolution of financial technology in that environment is actually stunning.”
China’s economy grew at a pace of 6.7 percent in the second quarter of the year — slightly below the 6.8 percent seen in the first three months of 2018, according to data published by Chinese authorities Monday.