A oportunidade da China

Muita coisa está a mudar na China e isso tem implicações substanciais para todos os investidores, sejam eles pessoas individuais ou grandes investidores institucionais sofisticados. O custo de ignorar esta oportunidade emergente pode ser muito alto, especialmente a longo prazo.

Capital sujeito a risco. O valor dos investimentos e o seu rendimento podem diminuir ou aumentar e não são garantidos. Os investidores podem não recuperar o montante investido inicialmente.

Risco: Os investimentos na China estão sujeitos a certos riscos adicionais devido a questões relacionadas com liquidez e repatriação de capital.

For Professional Clients and Qualified Investors Only.

Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

Investments in China are subject to certain additional risks due to issues relating to liquidity and the repatriation of capital.

Why China?

Lucy Liu, portfolio manager, shares her views on why now is an interesting time to look at Chinese equities and to which sectors she is paying close attention.

Why China?

With over 4,000 listed companies, the Chinese stock market offers access to all aspects of the economy and allows investors to benefit from this fast-growing, comprehensive and under-owned asset class.

We see even more potential in China over the coming years as the country increasingly focuses on the 4 S’s – sustainability, self-reliance, social equality and data security. We see many rising stars in sectors such as technology, industrials and new consumption which present attractive opportunities for active investors. Recent policy change activity represents the direction of the political agenda and underscores the dynamic nature of the Chinese market as we look for tomorrow’s champions. Currently this search is focused on four key themes:

New energy which we believe forms a long-term secular trend as China works to meet its ambitious carbon neutrality goals

Electronics and industrial automation as demand for electronic products is supported by the increasing reliance of technology in areas such as remote working, 5G and cloud penetration. At the same time, we see tight supply and demand conditions in segments such as semiconductors, foundries and integrated circuit design 

Domestic consumption where we see continued growth in high end consumption whole domestic brands are gaining more traction among younger generations 

Pharmaceuticals where Chinese contract pharma manufacturing companies are gaining global market share by helping drug development and manufacturing processes with cost competitiveness and high quality output

At a macro level, we expect Chinese monetary policy to remain stable for the second half of this year and as inflation peaks, what has previously been a headwind to corporate margins will become a tailwind. For all these reasons, I remain positive on the equity market in terms of strength and resilience. However, we cannot ignore the risks posed by geopolitical tensions and regulatory complexities in the near term and investors need to weigh these are part of an investment decision.

Porquê a China

Lucy Liu, Portfolio Manager on the Global Emerging Markets Equities Team, ouve-a ao destacar as oportunidades de investimento que a China oferece

Enorme, mas com pouca propriedade

segunda
maior economia do mundo1
segunda
maior mercado de ações e obrigações do mundo2
3%
detido por investidores estrangeiros3

Fontes: 1IMF, Abril 2021, 2World Federation of Exchanges, Dezembro 2020 e Bank of International Settlements, Setembro 2020, 3People’s Bank of China, Wind, Dezembro 2020

Porquê escolher BlackRock

Para ajudar a descobrir as oportunidades que estas mudanças proporcionam, estando ciente do risco geopolítico envolvido no investimento no mercado, é necessário um parceiro de confiança que não seja apenas um especialista na China, mas que possa aplicar os seus conhecimentos, perícia e julgamento na criação de carteiras

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