SINGAPORE (BLOOMBERG) – Singapore's investment company, Temasek, expects Chinese growth to rebound in the second half of 2022 as the government stimulates the economy, according to chief investment officer Rohit Sipahimalani.

"We are close to the trough, so a very different stage in the cycle," he told Bloomberg Television. "I would see growth on the rise in the second half of this year as against a decline in the US and Europe."

Speaking on the sidelines of the Milken Institute Global Conference in Los Angeles on Tuesday (May 3), Mr Sipahimalani admitted the firm's investment in ride-hailing firm Didi Global had not been good from a stock price perspective. But he continues to be bullish on the broader market and some of its tech companies pending clarity from the government.

Temasek had US$381 billion (S$527.3 billion) in assets under management as of March 2021 including investments in China, which has struggled with Covid-19 crackdowns among other macro factors.

Temasek has steadily cut its positions in Chinese technology giants such as Alibaba Group Holding and Didi over the past year, while also suffering losses in the country's online education space.

The US Securities and Exchange Commission is investigating Didi's chaotic 2021 debut in New York, when the ride-hailing giant raised US$4.4 billion days before revelations of a Chinese probe into data security tanked the stock.

Around 27 per cent of Temasek's holdings are based in China – the single largest geography for its holdings ahead of its home country of Singapore. The firm is due to speak about its annual results for the year ending March 31, 2022, by July.

"A lot of companies in the Chinese Internet space have been beaten down a lot. And I think over the next few months, just based on the announcements, we will have more clarity in policy around them," he said. "In some of those cases, there'll be very attractive opportunities to invest in them."