China’s Two Sessions: reopening and rebound
FA explores Beijing’s priorities for 2023, as Xi Jinping formalises his third term as PRC president.
March 14, 2023
While China’s border reopening in January marked a seminal shift in pandemic sentiment, investors remain cautious in terms of how they approach allocation to the market. Following nearly three years of Covid-19 contusion which culminated in vast anti-government protests at the end of 2022, those exposed to China’s economy continue to contend with alpha-draining factors, including ongoing deleverage across the real estate sector and heightened geopolitical hostility.
In spite of broader access to China’s domestic bond markets as a result of a series of updates to the Bond Connect scheme last summer, deeply entrenched structural issues and transparency concerns keep foreign investors guarded. This is especially true of the property...
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