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China's financial market to remain attractive for foreign capital: UBS economist

(Xinhua)    07:58, November 29, 2019

BEIJING, Nov. 28 (Xinhua) -- China will remain attractive to investors worldwide amid global economic slowdown and uncertainties, a UBS economist said Thursday.

The increased index weighting of China's A-shares in the global benchmark MSCI will motivate global investors to slant their portfolios more toward the Chinese stock market, the second-largest in the world, said Hu Yifan, chief China economist of UBS Global Wealth Management.

Speaking about the impact of trade tensions on China's stock market, Hu said China still stands out among emerging markets because trade uncertainties have very limited impact on listed companies, which rely heavily on the domestic market.

China's bond market will likely become a major magnet for foreign capital in the next three to five years as the Chinese currency is expected to stay strong, said Hu.

High-tech sectors like fintech and 5G, as well as consumption-related industries, are all attractive areas for overseas investment, she said.

UBS estimated global economic growth would hit 3 percent in 2020, down from 3.1 percent this year, while the growth rate for emerging markets will edge up to 4.6 percent from 4.2 percent.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Liang Jun, Bianji)

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