Peter Jungen, Chairman of Peter Jungen Holding GmbH, attends the 2025 Understanding China International Conference, held from November 30 to December 2 in Guangzhou.
Peter Jungen, Chairman of Peter Jungen Holding GmbH, praised China as a "real economic miracle" and a global leader in innovation during the 2025 Understanding China International Conference, held from November 30 to December 2 in Guangzhou.
Jungen first visited Guangzhou in the 1970s to attend the Canton Fair, one of China's oldest and largest trade fairs. Reflecting on decades of observation, he remarked that what struck him most was China's "tremendous potential for growth," which he said has been fully realized, leading to staggering economic achievements. "It's quite clear that China is embarking on a housing boom based on very new technologies," he said.
As a veteran investor focused on incubating startups and early-stage ventures, Jungen emphasized that his foundation prioritizes entrepreneurs and their business models over location. "We don't care whether they're in Beijing or Guangzhou; it's important to find the right people, wherever they are located," he explained.
He particularly highlighted South China's dynamism and entrepreneurship, noting that Guangdong's innovative spirit made it a natural home for the Canton Fair.
The conference has drawn global policymakers, scholars, and business leaders to discuss China's development strategy and international cooperation. Jungen's comments underscore growing international recognition of China's shift from rapid growth to high-quality, innovation-driven expansion.
Reporter: Hu Nan
Photo: Qin Shaolong
Editor: Ouyang Yan, James Campion, Shen He
