Bloomberg News

China Faces ’Huge’ Income Gap, Instability, Soho’s Zhang Says

October 24, 2011

Oct. 24 (Bloomberg) -- Soho China Ltd. Chief Executive Officer Zhang Xin comments on the Chinese economy and social stability.

She spoke in a Bloomberg Television interview.

“The Chinese government now is in a very tricky place. For the last 30 years, it’s been just growth; everybody is living better, but some progressed faster than others. Now China is facing a huge income disparity. We are better than before, but less good as others. That’s creating a lot of social instability.

“China’s biggest issue for the next 10 years is how you balance it so that you can still have growth and at the same time the social discontent is being taken care of. I think this is a really really tough job.”

On China growth:

“Every investor who invests in China is expecting you to grow because it is a growing country. How can you not grow if the country is growing at 10 percent a year. The pressure on growth is quite immense. If you do well, more investors come, more banks come, they want to lend you money.”

--Zheng Lifei and Francine Lacqua. Editors: Stephanie Wong, Gregory Turk.

To contact Bloomberg News staff for this story: Zheng Lifei in Beijing at lzheng32@bloomberg.net

To contact the editor responsible for this story: Chris Anstey at canstey@bloomberg.net


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus