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The increasing number of investors interested in China is not due to the Olympics, but to the massive growth the economy has achieved, according to Peter Hames, manager of the £405m Edinburgh Dragon trust.

Mr Hames' comments come in the light of a recent survey by the Association of Investment Companies that canvassed investment managers on investing in China.

The survey found that, while managers thought the Olympics has attracted new investments in areas such as infrastructure, transport and tourism, they do not believe the games have boosted the Chinese economy so much that it will be adversely affected once the event has finished and the hype subsides.

John Millar, manager of the £114m Martin Currie Pacific trust, said: "The forthcoming Olympics in Beijing will place the eyes of the world on China. As we saw with South Korea in 1988, such an event can have a major impact on the international perceptions of a country. The Olympics will be more a symbol of national pride than a genuine watershed for the Chinese economy."

This view was echoed by Peter Dalgleish, manager of the £145m F&C Pacific Assets trust. Mr Dalgleish said the Olympics would be an opportunity to demonstrate to the world just what China can do and how far it has evolved over the past decade.

With regards to the credit crunch and the impact it might have on China, the consensus was generally optimistic.

Mr Hames said: "While China’s economy has slowed recently due to the credit crunch, it will be a key driver for global growth for decades to come."

Mr Dalgleish said, even if the market did fall further and begin to erode China's economy, the government had done enough to protect itself.

"Due to buoyant revenue receipts last year, China enjoys a relatively rare position of being able to support the economy through fiscal pump priming if needed," he said. "Infrastructure and healthcare would be the most likely beneficiaries, as the government could justify the expenditure as being part of its objective to achieve a more ‘harmonious society’."

Pinakin Patel, Pacific Client Portfolio manager at JPMorgan Asset Management, said that while China has not been immune to the effects of the credit crunch, the country has been able to withstand a fragile global economy.

"China’s exports to Asia remain strong, which has helped offset the decreased demand for Chinese goods to the US, while European demand has remained stable."