- As China continues to shift to a domestic consumption-driven economy, we believe emerging middle-class consumption will remain the strongest driver of domestic economic growth and bottom-up investment opportunities.
- Healthcare has also become a bigger focus of the general public in China in light of the COVID-19 pandemic, and China is vastly underpenetrated and underspending in terms of healthcare compared to many countries in the world.
- As an example, China has recently accelerated investment in semiconductors, increasing support to domestic companies that offer technologies along the semiconductor value chain.
For further details see:
How COVID-19 Changes China