Executive Summary
The Story So Far
Why This Matters
Who Thinks What?
Senior Chinese official He Lifeng met with Joseph Bae, co-CEO of U.S. private equity firm Kohlberg Kravis Roberts & Co. (KKR), in Beijing on November 11, 2025, to discuss China’s economic performance and investment opportunities. The meeting underscored China’s confidence in achieving its annual growth targets and its welcoming stance towards foreign investors, with Bae expressing KKR’s willingness to expand its presence in the country.
China’s Economic Outlook
He Lifeng, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and director of the Office of the Central Commission for Financial and Economic Affairs, stated that the Chinese economy has maintained stable and sound performance throughout the current year. He affirmed China’s confidence and capability in realizing its annual growth target.
He also noted that the fourth plenary session of the 20th CPC Central Committee, held last month, outlined a blueprint for China’s development over the next five years. This strategic plan is anticipated to significantly contribute to global economic growth.
Emphasizing an open-door policy, He Lifeng extended an invitation to international investors. He encouraged them to conduct business in China and partake in the opportunities arising from the nation’s ongoing economic development.
KKR’s Confidence in China
Joseph Bae, representing KKR, conveyed his firm’s full confidence in the prospects of China’s economic development. He also expressed KKR’s readiness to further expand its investment and cooperation initiatives within China.
Key Takeaways
The engagement between He Lifeng and Joseph Bae highlights China’s continued efforts to attract foreign capital and its optimistic outlook on its economic trajectory. It also signals the sustained interest of major global investment firms like KKR in the Chinese market, despite prevailing global economic uncertainties.
