주요 인사이트 & 웨비나
China’s 14th, Five-Year Plan is a refreshing reiteration of conventional supply side policies, at a time when Developed Markets are in the grip of very unorthodox economic policies.
Nov 04, 2020
The term "dual circulation” is one of the hot searches in China and receives great attention after President Xi first expressed this idea at a top official meeting held earlier this year. He then elaborated further that China’s economic model will be involving an internal circulation developing a substantial domestic market, and an external circulation deepening the international trade. The latest meeting of Communist Party’s Central Committee reinforced this policy will be the core component of the 14th five-year plan for the development between 2021 and 2025.
Nov 04, 2020
The latest economic data confirms the upward trajectory of Chinese growth, putting China on track to be the only major economy to register growth for the full year 2020. And it highlights the attractiveness of China’s asset markets and supports the case for continued outperformance against other major markets.
Oct 28, 2020
Two separate news items last week focused our attention on the gap in understanding about the rapidly changing energy landscape in China.
Oct 20, 2020
Yield curve steepening – which has been accelerating in recent weeks as the market contemplates a whopper of a stimulus package under a possible Biden White House – is likely to continue regardless of the winner on November 3.
Oct 14, 2020
Since COVID we have observed that many constituents in our Premia ETFs have been silver lining beneficiaries and continue rallying notwithstanding the market volatilities, unfolding COVID situation and US China tension. Here we share the conversation with our Co-CIO David Lai and team, on some frequent topics that come up often in our client conversations, especially around China new economy ETF (3173/ 9173 HK), which registered strong YTD return* of ~40% and have become the 4th largest A shares ETF in Hong Kong as consistent inflows since April tripled its AUM to ~US$285 million.Please click here for transcript to the disscussion.*as of October 12th 2020
Oct 14, 2020
The Chinese economy continues to normalize across the board at an impressive rate, leading to the strong likelihood of it beating the current Bloomberg consensus GDP estimate growth rate of around 2% for 2020.
Oct 06, 2020
The COVID-19 pandemic could accelerate new thinking about Emerging Markets in asset allocations.
Sep 23, 2020
China economy recovered faster than the rest of the world from the pandemic as shown by various economic indicators ranging from official PMI, GDP number, steel output, excavator sales, to traffic data. China’s solid macro recovery stands out from the rest of the major economies which either remain in a lock-down mode or simply begin to resume economic activities. That explains Chinese listed companies outperformed in terms of earnings and stock price performance.
Sep 10, 2020
토픽별
주간 차트
David Lai , CFA
CFA
China A-share market has become increasingly polarized, as earnings momentum and growth expectations drove investor flows. While the Information Technology sector has surged 31.9% year-to-date, Consumer Staples have declined 13.8%, illustrating a clear market preference for growth-oriented industries over traditional defensives. The strength of the technology sector is often attributed to the global enthusiasm surrounding artificial intelligence and semiconductor demand, alongside Beijing’s continued support for domestic innovation and import substitution in critical technologies. However, the rally is far from being purely sentiment driven. Corporate fundamentals have provided substantial support. In the first quarter of 2026, Information Technology companies delivered earnings growth of 68.0% year-on-year, second only to Materials at 74.8%. In contrast, Consumer Staples reported a 15.4% earnings decline, reflecting weaker operating momentum. The earnings divergence has also been reinforced by analyst revisions, with full-year profit estimates for Information Technology revised upward by 7.4%, while Consumer Staples experienced a sharp 19.3% downgrade. Looking ahead, earnings growth is expected to remain concentrated in a handful of high-growth sectors. Consensus forecasts point to full-year 2026 earnings growth of 72.0% for Materials, 70.6% for Information Technology, 33.7% for Industrials, and 30.8% for Healthcare, while Utilities, Financials and Consumer Staples are expected to lag. For investors seeking exposure to China’s structural growth themes, the Premia China STAR50 ETF and Premia China New Economy ETF offer targeted access to innovative and high-growth segments of the market, both of which have outperformed the broader A-share market year-to-date.
Jun 15, 2026
