The Investor's Guide to China
Fidelity International
The Investor's Guide to China takes you deep into the workings of the Chinese economy and its financial markets. In each episode Fidelity International brings you a cast of experts who invest in the world's second largest economy. Listen to how they use decades of investment expertise to find the most exciting opportunities, as well as identify the areas best avoided.
Categories: News & Politics
Listen to the last episode:
China has come out with a string of policies that are targeted to reinvigorate economic growth. Some of the policies are adding leverage to the government’s balance sheet. A question that investors are asking is: how much more will China realistically spend to stimulate the economy?
So far, these policies have focused on shoring up demand - unlike after the financial crisis, when China spent trillions of renminbi to expand supply. That is an importance difference because it implies policymakers remain disciplined in the way they choose to manage debt.
Marty Dropkin, Head of Equities, Asia Pacific, asks Fidelity International’s Director of Research for Fixed Income, Asia Pacific, Bich Nguyen, and Fixed Income Portfolio Manager, Tae Ho Ryu, about how investors should approach the issue.
With an additional contribution from Portfolio Manager Olivia He.
This episode was recorded on September 12th, 2024, before the most recent policy measures were announced.
READ
Read a summary of this episode here.
Read our analysis on how China keeps its debt in order here.
For a more in-depth take on China’s bond market, listen to the previous podcast episode on the renminbi here.
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Previous episodes
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36 - The Investor’s Guide to China: Dealing with China's debt (#33) Tue, 24 Sep 2024
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35 - The Investor’s Guide to China: Asia's bright spots (#32) Wed, 07 Aug 2024
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34 - The Investor’s Guide to China: The renminbi effect (#31) Fri, 12 Jul 2024
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33 - The Investor's Guide to China: Healthcare (#30) Fri, 07 Jun 2024
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32 - The Investor's Guide to China: Shareholder return (#29) Wed, 24 Apr 2024
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31 - The Investor's Guide to China: Cities and migration (#28) Fri, 08 Mar 2024
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30 - The Investor's Guide to China: China's bond market (#27) Wed, 07 Feb 2024
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29 - The Investor's Guide to China: Transition materials (#26) Tue, 19 Dec 2023
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28 - The Investor's Guide to China: In conversation with Louis-Vincent Gave (#25) Wed, 25 Oct 2023
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27 - The Investor's Guide to China: Japanification (#24) Tue, 10 Oct 2023
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26 - The Investor's Guide to China: De-dollarisation (#23) Tue, 18 Jul 2023
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25 - The Investor's Guide to China: China Consumer (#22) Tue, 20 Jun 2023
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24 - The Investor’s Guide to China: Decarbonising China (#21) Tue, 16 May 2023
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23 - The Investor’s Guide to China: Tech Hardware and the ‘Chip War’ (#20) Wed, 22 Mar 2023
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22 - The Investor's Guide to China: China's reopening and supply chains (#19) Mon, 13 Feb 2023
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21 - Trailer: Trade Offs Thu, 19 Jan 2023
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20 - The Investor's Guide to China: China's Onshore Markets (#18) Mon, 12 Dec 2022
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19 - The Investor's Guide to China: China's Next Phase (#17) Wed, 09 Nov 2022
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18 - The Investor's Guide to China: Private Markets (#16) Thu, 29 Sep 2022
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17 - Tell us what you think about Fidelity Answers Wed, 07 Sep 2022
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16 - The Investor's Guide to China: Engaging with companies in China (#15) Thu, 11 Aug 2022
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15 - Help shape Fidelity Answers Thu, 14 Jul 2022
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14 - The Investor's Guide to China: Common Prosperity (#14) Tue, 07 Jun 2022
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13 - The Investor's Guide to China: Supply Chains (#13) Thu, 28 Apr 2022
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12 - The Investor's Guide to China: Debt (#12) Mon, 21 Mar 2022
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11 - The Investor's Guide to China: Demographics (#11) Tue, 23 Nov 2021
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10 - The Investor's Guide to China: Regulation (#10) Wed, 13 Oct 2021
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9 - The Investor's Guide to China: China in the world - an interview with Gavekal's Louis-Vincent Gave (#9) Tue, 06 Jul 2021
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8 - The Investor's Guide to China: Trade and growth (#8) Wed, 07 Apr 2021
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7 - The Investor's Guide to China: Belt and Road (#7) Thu, 26 Nov 2020
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6 - The Investor's Guide to China: Consumers (#6) Thu, 06 Aug 2020
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5 - The Investor's Guide to China: Technology and innovation (#5) Thu, 21 May 2020
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4 - The Investor's Guide to China: Environment (#4) Tue, 18 Feb 2020
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3 - The Investor's Guide to China: Corporate governance (#3) Fri, 18 Oct 2019
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2 - The Investor's Guide to China: Stock picking (#2) Mon, 16 Sep 2019
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1 - The Investor's Guide to China: Opening up (#1) Tue, 11 Jun 2019