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中国基石经济

中国基石经济

以基本面多元因子策略捕捉推动中国实体经济改革升级的优质蓝筹企业

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中国A股基石经济

2803 (港元) | 9803 (美元)

# A股# 智能贝塔# 多因子# 价值# 低波动# 规模# 质量
中国A股新经济

3173 (港元) | 9173 (美元)

# A股# 新经济# 新基建# 十四五# 高质量增长# 2060碳中和
Premia 中国科创50 ETF

3151 (港元) | 83151 (人民币) | 9151 (美元)

# A股# 科创板# 半导体# 人工智能# 生物科技# 2060碳中和
亚洲创新科技及元宇宙

3181 (港元) | 9181 (美元)

# 智能电动车# 人工智能# 机器人# 自动化# 5G# 电子竞技# 半导体
新兴东盟市场

2810 (港元) | 9810 (美元)

# 越南# 泰国# 马来西亚# 菲律宾# 印尼
MSCI 越南市场

2804 (港元) | 9804 (美元)

# 供应链# 中产阶级# 消费升级
中国长久期政府债券 (非对冲)

2817 (港元) | 82817 (人民币) | 9817(美元)

中国政府债券 (美元对冲)

9177 (美元) NEW

# 中国债券# 长期# 政府债券# 人民币# 指数纳入# 美元对冲
中国房地产美元债

3001 (港元) | 83001 (人民币) | 9001(美元)

# 中国债券# 高息债# 美元# 亚洲信用债
美国国库浮息票据 (分派)

3077 (港元) | 9077 (美元)

美国国库浮息票据 (累计)

9078 (美元)

# 国库券# 一周久期# 税务效率
中国A股基石经济
2803 (港元) | 9803 (美元)
中国A股新经济
3173 (港元) | 9173 (美元)
Premia 中国科创50 ETF
3151 (港元) | 83151 (人民币) | 9151 (美元)
亚洲创新科技及元宇宙
3181 (港元) | 9181 (美元)
新兴东盟市场
2810 (港元) | 9810 (美元)
MSCI 越南市场
2804 (港元) | 9804 (美元)
中国长久期政府债券 (非对冲)
2817 (港元) | 82817 (人民币) | 9817(美元)
中国政府债券 (美元对冲)
9177 (美元)
中国房地产美元债
3001 (港元) | 83001 (人民币) | 9001(美元)
美国国库浮息票据 (分派)
3077 (港元) | 9077 (美元)
美国国库浮息票据 (累计)
9078 (美元)

精选观点 & Webinar
premia headline
It was challenging for global investors to find a market that could offer a positive return in 2022. China market can’t escape from the selloff, with H-shares, A-shares and ADRs down by 20% to 29% in dollar return in the first eleven months of the year. The market turnover was shrinking whilst foreign investors were net selling. Internally, the frequent COVID-lockdowns, a property market slump, an ongoing Internet scrutiny, and the deteriorating bilateral relationship between China and the US all contributed to the bearish sentiment in Chinese equities. Externally, the Ukraine-Russia war, high inflationary pressure, an accelerated rate hike cycle, and strengthening dollar have further weakened investors’ confidence towards risky assets.
2022年12月2日
It was challenging for global investors to find a market that could offer a positive return in 2022. China market can’t escape from the selloff, with H-shares, A-shares and ADRs down by 20% to 29% in dollar return in the first eleven months of the year. The market turnover was shrinking whilst foreign investors were net selling. Internally, the frequent COVID-lockdowns, a property market slump, an ongoing Internet scrutiny, and the deteriorating bilateral relationship between China and the US all contributed to the bearish sentiment in Chinese equities. Externally, the Ukraine-Russia war, high inflationary pressure, an accelerated rate hike cycle, and strengthening dollar have further weakened investors’ confidence towards risky assets.
2022年12月2日

Q3 2022 China A-shares factor review
After finishing Q2 as the only emerging market in positive territory, the effects of zero-COVID policy, a continued slump in the property market, and weakening global demand pushed Chinese stocks to the bottom of the EM index in Q3. The CSI 300 Index dropped by -14.3% over the three months from July to September 2022. Below, we offer deeper insights into third-quarter performance—including some bright spots among state-owned enterprises and technology with a policy tailwind—along with our thinking on October’s National Congress and what the rest of the year might have in store.
2022年10月31日
After finishing Q2 as the only emerging market in positive territory, the effects of zero-COVID policy, a continued slump in the property market, and weakening global demand pushed Chinese stocks to the bottom of the EM index in Q3. The CSI 300 Index dropped by -14.3% over the three months from July to September 2022. Below, we offer deeper insights into third-quarter performance—including some bright spots among state-owned enterprises and technology with a policy tailwind—along with our thinking on October’s National Congress and what the rest of the year might have in store.
2022年10月31日

China healthcare: taking stock of growth drivers inside Premia China new economy strategy
Unlike in developed markets, healthcare is actually a growing “new economy” sector in China that offers tremendous opportunities for global investors. As the Chinese economy evolves, the sector also enjoys fundamental tailwinds such as rising demand for healthcare and wellness services as living standards improve, and an aging population with low birth rates. Meanwhile being a growth sector with public interest concerns that is also popular among retail investors, the healthcare sector also experiences volatility swings and regulation tailwinds from time to time such that taking a diversified approach with consideration for fundamentals may be more optimal. In this article, we would take a closer look at the various underlying sub-segments, review their characteristics and also highlight some of the leading A-share companies driving the growth opportunities in their respective space.
2022年9月20日
Unlike in developed markets, healthcare is actually a growing “new economy” sector in China that offers tremendous opportunities for global investors. As the Chinese economy evolves, the sector also enjoys fundamental tailwinds such as rising demand for healthcare and wellness services as living standards improve, and an aging population with low birth rates. Meanwhile being a growth sector with public interest concerns that is also popular among retail investors, the healthcare sector also experiences volatility swings and regulation tailwinds from time to time such that taking a diversified approach with consideration for fundamentals may be more optimal. In this article, we would take a closer look at the various underlying sub-segments, review their characteristics and also highlight some of the leading A-share companies driving the growth opportunities in their respective space.
2022年9月20日

Asia metaverse – the coming of age of virtual influencers
If the KOLs (key opinion leaders) have stormed the world with livestreaming and short videos globally in recent years, the metaverse is bringing on a new cohort of KOLs across Asia – virtual influencers. In fact, Asia is already seeing very rapid growth of virtual influencers, given the high internet penetration, digital economy and demographic tailwinds across the region. From Korea, China, Japan to Singapore, Malaysia and Thailand, brands and marketers across industries are increasingly ready to adopt and experiment, especially those targeting young consumers. In fact according to Jing Daily estimates, of the 80% of Chinese netizens following online celebrities, over 60% follow virtual idols and over half spending at least RMB500 a month on related purchases. Virtual KOLs also are said to often have interaction rates three times higher than their real counterparts. In this article, we shall share more about this coming of age of virtual influencers in Asia, with a deeper dive into the observations in Korea where the virtual influencers are bringing important new elements to the K-pop industry.
2022年9月9日
If the KOLs (key opinion leaders) have stormed the world with livestreaming and short videos globally in recent years, the metaverse is bringing on a new cohort of KOLs across Asia – virtual influencers. In fact, Asia is already seeing very rapid growth of virtual influencers, given the high internet penetration, digital economy and demographic tailwinds across the region. From Korea, China, Japan to Singapore, Malaysia and Thailand, brands and marketers across industries are increasingly ready to adopt and experiment, especially those targeting young consumers. In fact according to Jing Daily estimates, of the 80% of Chinese netizens following online celebrities, over 60% follow virtual idols and over half spending at least RMB500 a month on related purchases. Virtual KOLs also are said to often have interaction rates three times higher than their real counterparts. In this article, we shall share more about this coming of age of virtual influencers in Asia, with a deeper dive into the observations in Korea where the virtual influencers are bringing important new elements to the K-pop industry.
2022年9月9日

Climate change in practice: deciphering the energy situation in Sichuan
Sichuan has a very real climate change issue to manage this year. After extreme heatwave and drought causing power rationing for industrial users for two weeks, the province is now quickly re-gearing for Level IV flood emergency alert. While most factories are able to resume production now, should we be concerned especially with memories from the power crunch actions last year? What would be the impacts and ripple effects we should pay attention to? In this article we reviewed the background triggering the Sichuan situation, and why we believe the power rationing events are more pre-emptive in nature and energy security is very carefully managed in the planned economy of China.
2022年8月31日
Sichuan has a very real climate change issue to manage this year. After extreme heatwave and drought causing power rationing for industrial users for two weeks, the province is now quickly re-gearing for Level IV flood emergency alert. While most factories are able to resume production now, should we be concerned especially with memories from the power crunch actions last year? What would be the impacts and ripple effects we should pay attention to? In this article we reviewed the background triggering the Sichuan situation, and why we believe the power rationing events are more pre-emptive in nature and energy security is very carefully managed in the planned economy of China.
2022年8月31日

Hedge or not hedge? Asia’s first ETF for Chinese government and policy bond with both RMB unhedged and USD hedged optionality
Global markets have been subject to higher volatility so far in 2022 amid escalating inflation and recession risks. The US rate hike cycle has added further pressure to the dollar return of most foreign-currency-denominated assets due to the strengthening dollar. In this article, we describe the genesis behind the recent addition of USD hedged unit class to our Premia China Treasury and Policy Bank Bond Long Duration ETF (9177.HK), which is the first among peers to offer USD hedging feature in Asia. For investors that are mindful of mark to market risk amid continued US interest rate hikes, as well asset owners with long duration allocation needs, the Premia China Treasury and Policy Bank Bond Long Duration ETF is a unique tool that provides access to the long duration Chinese government and policy bank bonds with strong A1 sovereign bond rating, competitive yield of over 3%, stable yield volatility and now with the USD hedged unit class, additional optionality to capture the steady yield of China sovereign bonds whilst minimizing exchange rate risks for RMB.
2022年8月18日
Global markets have been subject to higher volatility so far in 2022 amid escalating inflation and recession risks. The US rate hike cycle has added further pressure to the dollar return of most foreign-currency-denominated assets due to the strengthening dollar. In this article, we describe the genesis behind the recent addition of USD hedged unit class to our Premia China Treasury and Policy Bank Bond Long Duration ETF (9177.HK), which is the first among peers to offer USD hedging feature in Asia. For investors that are mindful of mark to market risk amid continued US interest rate hikes, as well asset owners with long duration allocation needs, the Premia China Treasury and Policy Bank Bond Long Duration ETF is a unique tool that provides access to the long duration Chinese government and policy bank bonds with strong A1 sovereign bond rating, competitive yield of over 3%, stable yield volatility and now with the USD hedged unit class, additional optionality to capture the steady yield of China sovereign bonds whilst minimizing exchange rate risks for RMB.
2022年8月18日
更多观点
Premia 图说
  • 朱榮熙
    朱榮熙

    投资总监

Investors are more optimistic about China’s economy as more policies have been rolled out after the 20th National Congress, such as some supportive measures to the property sector and some relaxations on the COVID restrictions to reopen the economy. More recently, NDRC director He Lifeng, a potential candidate for succeeding Liu He, commented that the next stage of development will be centred around core technology and the digital economy and that China should lay out the infrastructure in advance to promote innovation and autonomy in those areas. Some onshore brokers think that may be a signal to ease the regulator crackdown on the internet and software industries. The gaining of investors’ interests in China’s stock market could be observed in the outstanding amount of call options in one of the largest A-shares ETFs listed in the US, FXI, which has shot up to an unprecedented level in 5 years. Premia Partners offers ETFs which have more precise exposure. Investors who would like to get exposure to the traditional sectors, such as Financials and Real Estate, may have a look at our Premia CSI Caixin China Bedrock Economy ETF. Those who would like to get exposure to the new economy sectors, such as Information Technology and Healthcare, may have a look at our Premia CSI Caixin China New Economy ETF.
2022年11月22日
来自合作伙伴
Premia 图说
  • 朱榮熙
    朱榮熙

    投资总监

Investors are more optimistic about China’s economy as more policies have been rolled out after the 20th National Congress, such as some supportive measures to the property sector and some relaxations on the COVID restrictions to reopen the economy. More recently, NDRC director He Lifeng, a potential candidate for succeeding Liu He, commented that the next stage of development will be centred around core technology and the digital economy and that China should lay out the infrastructure in advance to promote innovation and autonomy in those areas. Some onshore brokers think that may be a signal to ease the regulator crackdown on the internet and software industries. The gaining of investors’ interests in China’s stock market could be observed in the outstanding amount of call options in one of the largest A-shares ETFs listed in the US, FXI, which has shot up to an unprecedented level in 5 years. Premia Partners offers ETFs which have more precise exposure. Investors who would like to get exposure to the traditional sectors, such as Financials and Real Estate, may have a look at our Premia CSI Caixin China Bedrock Economy ETF. Those who would like to get exposure to the new economy sectors, such as Information Technology and Healthcare, may have a look at our Premia CSI Caixin China New Economy ETF.
2022年11月22日
精选观点 & Webinar
premia headline
It was challenging for global investors to find a market that could offer a positive return in 2022. China market can’t escape from the selloff, with H-shares, A-shares and ADRs down by 20% to 29% in dollar return in the first eleven months of the year. The market turnover was shrinking whilst foreign investors were net selling. Internally, the frequent COVID-lockdowns, a property market slump, an ongoing Internet scrutiny, and the deteriorating bilateral relationship between China and the US all contributed to the bearish sentiment in Chinese equities. Externally, the Ukraine-Russia war, high inflationary pressure, an accelerated rate hike cycle, and strengthening dollar have further weakened investors’ confidence towards risky assets.
2022年12月2日
It was challenging for global investors to find a market that could offer a positive return in 2022. China market can’t escape from the selloff, with H-shares, A-shares and ADRs down by 20% to 29% in dollar return in the first eleven months of the year. The market turnover was shrinking whilst foreign investors were net selling. Internally, the frequent COVID-lockdowns, a property market slump, an ongoing Internet scrutiny, and the deteriorating bilateral relationship between China and the US all contributed to the bearish sentiment in Chinese equities. Externally, the Ukraine-Russia war, high inflationary pressure, an accelerated rate hike cycle, and strengthening dollar have further weakened investors’ confidence towards risky assets.
2022年12月2日

Q3 2022 China A-shares factor review
After finishing Q2 as the only emerging market in positive territory, the effects of zero-COVID policy, a continued slump in the property market, and weakening global demand pushed Chinese stocks to the bottom of the EM index in Q3. The CSI 300 Index dropped by -14.3% over the three months from July to September 2022. Below, we offer deeper insights into third-quarter performance—including some bright spots among state-owned enterprises and technology with a policy tailwind—along with our thinking on October’s National Congress and what the rest of the year might have in store.
2022年10月31日
After finishing Q2 as the only emerging market in positive territory, the effects of zero-COVID policy, a continued slump in the property market, and weakening global demand pushed Chinese stocks to the bottom of the EM index in Q3. The CSI 300 Index dropped by -14.3% over the three months from July to September 2022. Below, we offer deeper insights into third-quarter performance—including some bright spots among state-owned enterprises and technology with a policy tailwind—along with our thinking on October’s National Congress and what the rest of the year might have in store.
2022年10月31日

China healthcare: taking stock of growth drivers inside Premia China new economy strategy
Unlike in developed markets, healthcare is actually a growing “new economy” sector in China that offers tremendous opportunities for global investors. As the Chinese economy evolves, the sector also enjoys fundamental tailwinds such as rising demand for healthcare and wellness services as living standards improve, and an aging population with low birth rates. Meanwhile being a growth sector with public interest concerns that is also popular among retail investors, the healthcare sector also experiences volatility swings and regulation tailwinds from time to time such that taking a diversified approach with consideration for fundamentals may be more optimal. In this article, we would take a closer look at the various underlying sub-segments, review their characteristics and also highlight some of the leading A-share companies driving the growth opportunities in their respective space.
2022年9月20日
Unlike in developed markets, healthcare is actually a growing “new economy” sector in China that offers tremendous opportunities for global investors. As the Chinese economy evolves, the sector also enjoys fundamental tailwinds such as rising demand for healthcare and wellness services as living standards improve, and an aging population with low birth rates. Meanwhile being a growth sector with public interest concerns that is also popular among retail investors, the healthcare sector also experiences volatility swings and regulation tailwinds from time to time such that taking a diversified approach with consideration for fundamentals may be more optimal. In this article, we would take a closer look at the various underlying sub-segments, review their characteristics and also highlight some of the leading A-share companies driving the growth opportunities in their respective space.
2022年9月20日

Asia metaverse – the coming of age of virtual influencers
If the KOLs (key opinion leaders) have stormed the world with livestreaming and short videos globally in recent years, the metaverse is bringing on a new cohort of KOLs across Asia – virtual influencers. In fact, Asia is already seeing very rapid growth of virtual influencers, given the high internet penetration, digital economy and demographic tailwinds across the region. From Korea, China, Japan to Singapore, Malaysia and Thailand, brands and marketers across industries are increasingly ready to adopt and experiment, especially those targeting young consumers. In fact according to Jing Daily estimates, of the 80% of Chinese netizens following online celebrities, over 60% follow virtual idols and over half spending at least RMB500 a month on related purchases. Virtual KOLs also are said to often have interaction rates three times higher than their real counterparts. In this article, we shall share more about this coming of age of virtual influencers in Asia, with a deeper dive into the observations in Korea where the virtual influencers are bringing important new elements to the K-pop industry.
2022年9月9日
If the KOLs (key opinion leaders) have stormed the world with livestreaming and short videos globally in recent years, the metaverse is bringing on a new cohort of KOLs across Asia – virtual influencers. In fact, Asia is already seeing very rapid growth of virtual influencers, given the high internet penetration, digital economy and demographic tailwinds across the region. From Korea, China, Japan to Singapore, Malaysia and Thailand, brands and marketers across industries are increasingly ready to adopt and experiment, especially those targeting young consumers. In fact according to Jing Daily estimates, of the 80% of Chinese netizens following online celebrities, over 60% follow virtual idols and over half spending at least RMB500 a month on related purchases. Virtual KOLs also are said to often have interaction rates three times higher than their real counterparts. In this article, we shall share more about this coming of age of virtual influencers in Asia, with a deeper dive into the observations in Korea where the virtual influencers are bringing important new elements to the K-pop industry.
2022年9月9日

Climate change in practice: deciphering the energy situation in Sichuan
Sichuan has a very real climate change issue to manage this year. After extreme heatwave and drought causing power rationing for industrial users for two weeks, the province is now quickly re-gearing for Level IV flood emergency alert. While most factories are able to resume production now, should we be concerned especially with memories from the power crunch actions last year? What would be the impacts and ripple effects we should pay attention to? In this article we reviewed the background triggering the Sichuan situation, and why we believe the power rationing events are more pre-emptive in nature and energy security is very carefully managed in the planned economy of China.
2022年8月31日
Sichuan has a very real climate change issue to manage this year. After extreme heatwave and drought causing power rationing for industrial users for two weeks, the province is now quickly re-gearing for Level IV flood emergency alert. While most factories are able to resume production now, should we be concerned especially with memories from the power crunch actions last year? What would be the impacts and ripple effects we should pay attention to? In this article we reviewed the background triggering the Sichuan situation, and why we believe the power rationing events are more pre-emptive in nature and energy security is very carefully managed in the planned economy of China.
2022年8月31日

Hedge or not hedge? Asia’s first ETF for Chinese government and policy bond with both RMB unhedged and USD hedged optionality
Global markets have been subject to higher volatility so far in 2022 amid escalating inflation and recession risks. The US rate hike cycle has added further pressure to the dollar return of most foreign-currency-denominated assets due to the strengthening dollar. In this article, we describe the genesis behind the recent addition of USD hedged unit class to our Premia China Treasury and Policy Bank Bond Long Duration ETF (9177.HK), which is the first among peers to offer USD hedging feature in Asia. For investors that are mindful of mark to market risk amid continued US interest rate hikes, as well asset owners with long duration allocation needs, the Premia China Treasury and Policy Bank Bond Long Duration ETF is a unique tool that provides access to the long duration Chinese government and policy bank bonds with strong A1 sovereign bond rating, competitive yield of over 3%, stable yield volatility and now with the USD hedged unit class, additional optionality to capture the steady yield of China sovereign bonds whilst minimizing exchange rate risks for RMB.
2022年8月18日
Global markets have been subject to higher volatility so far in 2022 amid escalating inflation and recession risks. The US rate hike cycle has added further pressure to the dollar return of most foreign-currency-denominated assets due to the strengthening dollar. In this article, we describe the genesis behind the recent addition of USD hedged unit class to our Premia China Treasury and Policy Bank Bond Long Duration ETF (9177.HK), which is the first among peers to offer USD hedging feature in Asia. For investors that are mindful of mark to market risk amid continued US interest rate hikes, as well asset owners with long duration allocation needs, the Premia China Treasury and Policy Bank Bond Long Duration ETF is a unique tool that provides access to the long duration Chinese government and policy bank bonds with strong A1 sovereign bond rating, competitive yield of over 3%, stable yield volatility and now with the USD hedged unit class, additional optionality to capture the steady yield of China sovereign bonds whilst minimizing exchange rate risks for RMB.
2022年8月18日
更多观点
来自合作伙伴