China is changing

China is reforming and restructuring its economy to leverage its paramount capacity to innovate. Its creative power, particularly in the AI field, remains underappreciated and China currently offers investors a long-term growth story based on deep markets that remain attractively priced. Now is the time to get ahead of the opportunities as an investor.

Taking the lead: China’s ascent

China is now a leader, not a follower, across many significant industries that fit with today’s global megatrends – AI, renewable energy, and electric vehicles, to name a few. As the economy reforms to reflect this new reality, many Chinese products and services will become the go-to choice for innovation and quality, rather than just price.

China’s technological progress has accelerated dramatically, positioning it as a global leader in several sectors.

China’s technological progress has accelerated dramatically, positioning it as a global leader in several sectors. Advances in artificial intelligence, robotics, autonomous driving, and renewable energy highlight the country’s innovation-driven growth.

Policy reform has been pivotal in stabilising China’s financial markets and fostering growth.

Policy reform has been pivotal in stabilising China’s financial markets and fostering growth. Regulatory changes targeting structural issues – including stricter IPO oversight and enhanced delisting mechanisms – are mitigating systemic risks and creating a more resilient environment.

China’s equity markets are benefiting from robust domestic liquidity and rising institutional participation.

China’s equity markets are benefiting from robust domestic liquidity and rising institutional participation. Retail investors are reallocating funds into equities, while corporates are increasing share buybacks and dividends, enhancing shareholder returns. Combined with reasonable valuations and a low correlation to global markets, these trends make China an attractive investment destination.

Structural growth potential

In the current market, structural growth potential is defined by the dynamic trends reshaping industries. Key influences include the drive for self-sufficiency, advancements in AI, evolving consumer preferences, and an intensified focus on shareholder returns. Together, these factors present significant growth opportunities across various sectors.

Self sufficiency

Geopolitics drives localisation across a range of industries – software, semiconductor, healthcare, energy supply.  Also supports development of advanced manufacturing in sectors such as autos and machinery.

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Artificial Intelligence

DeepSeek a catalyst for surge in AI applications eg humanoid robots, autonomous driving, other software. Expanding ecosystem of technology hardware in support of computing power and software.

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New consumption

Trading down to lower price items, more focus on consumer experience. Benefits domestic brands in areas such as pet economy, “pop toys”, snacks and beverages, jewellery and cosmetics.

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Healthcare / biotech

Significant step up in new drugs under development, growing demand from global pharmaceutical companies to license domestically-produced drugs for sale outside China.

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Shareholder returns / dividends

Increased focus on corporate governance and improving shareholder returns. Central bank provision of credit for share buybacks and dividends. Higher dividend yields favoured in lower interest rate environment.

How China can help diversify your investments

Bonds can be accessed in onshore and offshore markets, and denominated in US or Chinese currencies, to help achieve a range of diversification objectives.

China’s markets have historically exhibited low correlations to other major markets – meaning they frequently move in different directions. This means investing in China could potentially bring diversification benefits.

Equities are available in a range of exchanges – from Shenzhen and Hong Kong listings to the Nasdaq-like STAR market

Night city skyline in China

China Briefing provides timely insights on the trends defining one of the world’s most dynamic equity markets. Join us on this journey with the views of our China equity team and their on-the-ground assessments of this continuously evolving story.

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Structural growth potential:
Source: UBtech, Reuters, Allianz Global Investors. The information above is provided for illustrative purposes only, not an indication of expected results. It should not be considered a recommendation to purchase or sell any particular security or strategy or an investment advice. Because market and economic conditions are subject to rapid change, all opinions and views expressed constitute judgments as at the date of the writing and may change at anytime without notice and with no obligation to update. Past performance, or any prediction, projection or forecast, is not indicative of future performance.


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