Cathie Wood Sees Growth Potential in Chinese Tech Stocks, Despite the Recent Price Plunge

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Cathie Wood CEO of Ark Investment Management LLC
Cathie Wood CEO of Ark Investment Management LLC

Cathie Wood, the CEO of Ark Invest and investor believes growth potential is in “disruptive innovation platforms” in China. She argued Chinese tech stocks are becoming a fierce competition to similar ventures in the United States.

Cathie spoke at a webinar in collaboration with the CEO of China Asset Management Li Yimei. The millionaire said the commitment of China to innovative sectors such as energy story, artificial intelligence, blockchain, DNA sequencing, and robotics have pushed the country to immense progress, “which is good for the entire economy,” IgnitesAsia quoted Wood as saying.

Cathie added Chinese platforms weren’t as competitive in recent years, but endorsing the disruptive technologies and innovative fields helped the country become a competitor of the United States.

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“Competition in technology is a really good thing. In terms of moving the technology forward faster than otherwise would have been the case,” she said.

Cathie Talks Tesla in China

The 65 years old investor showcased her amazement of the Chinese government’s collaboration with the private sector, especially in fields like artificial intelligence, and microchip development. She added China’s efforts to transit to electric vehicles are impressive.