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Beijing recognises the need to allocate resources to cope with the current situation, but there also needs to be a parallel strategy to rekindle economic growth. The recent policy announcements are not by chance but are choreographed and intended to enhance China’s prospects once the health crisis is resolved.
The new actions unveiled this week placed a number of Chinese companies on an entity list, requiring suppliers to get difficult-to-obtain U.S. government licenses.
The Hang Seng is down more than 50% from all-time highs. See why I think the risk-reward is attractive in investing in China and like HSI to gain exposure.
Beijing’s tone on the tech sector has shifted, focusing on healthy development, and greater regulatory clarity is allowing companies to adjust their business models. However, beyond the usual internet-based companies, those in the semiconductor and electric vehicle sectors are attracting investor interest.
A Shanghai court voids a car sale contract, saying that cryptocurrencies do not have the same legal status as national fiat currencies, and should not be circulated in the market.