Stephen Jen in Reuters on China’s Property Correction and Higher-Quality Growth
Stephen Jen, Reuters, April 17, 2026
In his latest column for Reuters, Stephen Jen, CEO and co-CIO of Eurizon SLJ Capital, examines China’s economic transition following several years of pressure in the property sector.
The article argues that China’s property correction, while substantial, has not produced the kind of systemic damage that many feared. Stephen contrasts China’s experience with Japan’s post-1989 property collapse and notes that Beijing has managed to maintain positive real GDP growth while shifting the economy toward more sustainable drivers.
As Stephen writes:
“China has turned a corner, finally.”
The column highlights the move away from property-led growth toward areas such as artificial intelligence, higher-technology manufacturing and alternative energy. Stephen frames this as part of a broader transition in China’s development model:
“China’s GDP is no longer being flattered by the housing boom but is instead being sustained by activities likely to support China’s long-term development.”
The article also considers China’s industrial strategy, including its ability to compete globally in areas such as electric vehicles, robotics and AI. While Stephen notes that domestic demand remains a challenge and trade tensions with the U.S. continue to matter, he also argues that China’s recovery may be well timed as global investors reassess their exposure to U.S. assets.
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