Int'l investors show great confidence in China: Goldman Sachs chief

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Last updated at: (Beijing Time) Saturday, November 01, 2003

Int'l investors show great confidence in China: Goldman Sachs chief

Goldman Sachs Chairman and CEO Henry M. Paulson said Friday the huge success that China achieved in global bonds shows the strong confidence of international investors in China's economic growth.

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Goldman Sachs Chairman and CEO Henry M. Paulson said Friday the huge success that China achieved in global bonds shows the strong confidence of international investors in China's economic growth.

China issued global bonds worth 1.5 billion US dollars last Thursday in New York that attracted unexpected investment enthusiasm. Goldman Sachs is one of the major underwriters.

Paulson said that international investors have been watching China closely. They are very impressed with China's leadership, social stability and economic progress.

The success of China's manned space program is also great news for them, Paulson said.

Paulson also spoke positively on the performance of China's issuance team.

"The team led by China's vice minister of finance Li Yong has done an outstanding job in the road show", Paulson said, noting that the team had conveyed many positive messages about China's economy to international investors.

The raise of the ceiling for China's foreign currency bonds andlong-term foreign currency bonds to A2 from A3 by International rating agency Moody's Investors Service also "psychologically cameat the right time", Paulson said.

China's Vice-Minister of Finance Li Yong told an international forum Wednesday that the issuance of the global bonds would establish a good communication mechanism with international investors for the country and the landmark transaction would help China rearrange its bond business.

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