-
Advertorial
-
FOCUS
-
Guide
-
Lifestyle
-
Tech and Vogue
-
TechandScience
-
CHTF Special
-
Nanshan
-
Futian Today
-
Hit Bravo
-
Special Report
-
Junior Journalist Program
-
World Economy
-
Opinion
-
Diversions
-
Hotels
-
Movies
-
People
-
Person of the week
-
Weekend
-
Photo Highlights
-
Currency Focus
-
Kaleidoscope
-
Tech and Science
-
News Picks
-
Yes Teens
-
Budding Writers
-
Fun
-
Campus
-
Glamour
-
News
-
Digital Paper
-
Food drink
-
Majors_Forum
-
Speak Shenzhen
-
Shopping
-
Business_Markets
-
Restaurants
-
Travel
-
Investment
-
Hotels
-
Yearend Review
-
World
-
Sports
-
Entertainment
-
QINGDAO TODAY
-
In depth
-
Leisure Highlights
-
Markets
-
Business
-
Culture
-
China
-
Shenzhen
-
Important news
在线翻译:
szdaily -> Markets -> 
Harvest Global CIO bets on ‘new economy’ stocks
    2017-11-14  08:53    Shenzhen Daily

CHINA’S growth will be driven by education, autos, health care and e-commerce over the next two years, as the government’s push to transform the economy into a consumption-driven one pays off, a fund manager said yesterday.

Global stock markets have soared to new heights this year, as the world economy gathered speed even as inflation remained stubbornly weak, giving central banks room to roll back some of the stimulus deployed in the aftermath of the 2008-09 financial crisis while keeping interest rates relatively low.

The strength in equities is set to continue, said Thomas Kwan, chief investment officer (CIO) of Harvest Global Investments.

Chinese equities remain the top pick for next year and it is also time for global investors to buy Chinese bonds, although the country’s high debt levels are a concern, Kwan added.

Kwan said he had allocated the maximum amount of funds into equities as allowed by the preset limits of various investment products at Harvest.

Kwan’s Hong Kong-based firm operates as the global arm of one of China’s largest asset managers — Harvest Fund Management. The parent has about US$130 billion in assets under management, mostly on the mainland.

Healthy U.S. and European growth will help Chinese exports, while China’s transition to a more consumption-driven model offers opportunities in “new economy” companies, Kwan said.

“What is driving growth is consumption-related industries, services,” he said. “Autos, education, health care, Internet commerce — those will remain the driver of growth for China in the next two years.”

China’s growth should help Asia outperform other emerging markets, while declining risks of a eurozone break-up and strong growth should help European equities beat their developed market peers, Kwan said.

China’s economy looks set to clock its first acceleration since 2010. Indicating strong consumption, e-commerce giant Alibaba’s sales on Single’s Day smashed its own record with a US$25.4 billion haul. (SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn