A golden era? Resilience, secular growth and attractive valuations make China a sure bet for investors

Deep Dive into China

Chinese equities continue to look well positioned, driven by a return to economic normalisation and a supportive policy backdrop.

We frame our positive Chinese equity view around the four key pillars of cyclical resilience, premium secular growth, an improving quality of growth and attractive valuations. The experience of Covid-19, the current geopolitical set-up and the upcoming new Five Year Plan have enhanced these first three points and, despite outperformance year to date, valuations remain appealing.  Cyclical reliance China continues to report positive macroeconomic numbers as both supply and demand conditions return to normal. Purchasing manager surveys remain strong, to the extent that the October Chi...