Key Chinese ag investment player bullish on reforms

Key Chinese ag investment player bullish on reforms

The founder of Legend Holdings has expressed positive views about the Communist Party of China"s (CPC) recently announced reforms to land and financial regulations, which he claimed have helped bring greater stability to the East Asian country"s business environment. 

Liu Chuanzhi - whose company owns computer business Lenovo and the rapidly-growing agricultural investor Joyvio Group - commented on the changes Thursday as part of his first visit to Chile, where Joyvio has a strategic partnership with produce exporter Subsole.

Liu highlighted substantial benefits would come from the party"s decision to treat private- and state-owned entities in the same way legally, while adding that proposed land reforms would boost the purchasing power of farmers while improving mechanization and productivity.

The executive, who last year was named by Forbes Magazine as one of the 10 most important business leaders in China, reminisced on how far rural China had developed since his days working in the countryside as part of Mao Zedong"s re-education programs, and was upbeat that the new framework underway would support rural China even further.

He said China would now be shifting from an economy based on manufacturing that was more dependent on the global economy, to one that would be more focused on internal consumption.

This tied into the visit to Chile, which has advantages for shipping fruit to the Northern Hemisphere due to its timing in the counterseason, as well as tariff benefits from the two countries" free trade agreement (FTA).

Liu and the Joyvio delegation were invited to Chile by the Luksic family, owners of Chile"s wealthiest company the Luksic Group. During the talk, the leader said he was impressed with the South American country"s level of environmental protection.

"We may be able to produce tastier plates of food that in Chile, but we can"t always produce Chile"s clear blue skies," he joked.