Picture
Contactez-nous
Picture

Chinese regulatory crack-down: consequences for investors

En bref

China has recently introduced a flurry of regulatory tightening measures. Upon their very diverse topics, markets have first grappled with finding a common theme which also could provide a rationale for an outlook.

Highlights:

  • China’s authorities have recently introduced a wide range of regulatory tightening measures. More are likely to come. The unifying theme is a new focus on “common prosperity”, implying a less beneficial environment for capital markets.
  • While regulatory uncertainty and falling earnings justify a major share of the Chinese market rout, we see signs of the market’s reaction being overdone. Chinese A-shares are starting to look attractive within global equity universe.
  • Short term, we remain cautious on the MSCI China (slight UW) amid persistent regulatory uncertainty and weaker post-pandemic growth prospects but see an upside potential in the mid-term. We favour A shares, though, because of more appealing valuations and lower regulatory pressure due to sector composition. Preferred sectors are Comm/Prof. services, Materials, Utilities, Cons. Services and Energy.

 Download the full report

Chinese regulatory crack-down: consequences for investors
Notre Offre
Investissement Responsable
Actualités
Nous Connaître
Contactez-Nous
Picture
Picture
Picture

© Generali Investments, tous droits réservés. Ce site internet est publié par Generali Investments et est considéré comme une communication marketing et une promotion financière liée aux produits et services des sociétés du groupe Generali suivantes : Generali Investments Partners S.p.A. Società di gestione del risparmio, Generali Insurance Asset Management S.p.A. Società di gestione del risparmio, Generali Investments Luxembourg S.A. et Generali Investments Holding S.p.A. (ci-après dénommées ensemble Generali Investments). En outre, le site peut contenir des communications de marketing et de promotion financière de produits et services de sociétés faisant partie de la plate-forme Multi-Boutiques coordonnée par Generali Investments Partners S.p.A. Società di gestione del risparmio, et en particulier de Generali Global Infrastructure, Sycomore Asset Management, Aperture Investors LLC, Plenisfer Investments SGR, Lumyna Investments et Generali Real Estate S.p.A. Società di Gestione del Risparmio.

Informations juridiques
Politique en Matière de Cookies
Politique de Confidentialité
Conditions Générales
Droits d’Auteur
Glossaire