Xi's High-Tech Drive Spurs Hunt for New Chinese Growth Stocks [BNN Bloomberg (Canada)]
BYD CO LTD UNSP/ADR (BYDDY)
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Source: BNN Bloomberg
The so-called new productive forces are meant to offer high technology, efficiency and quality. With industries from electric vehicles to hydrogen power, space flight to quantum technology mentioned this week, investors are speculating that Beijing will focus on artificial intelligence, chipmakers and automation. “My guess would be artificial intelligence, digital economy, electric vehicle, semiconductor and other innovation industries,” said Kerry Goh, chief investment officer at Kamet Capital Partners Pte. Stock traders have been left searching for bright spots from a largely disappointing annual gathering of the National People's Congress, with little specifics offered by Beijing on how the nation will achieve an around 5% annual growth target. Chinese benchmark gauges have staged a tentative recovery in the past month, aided by state-fund purchases, and investors are looking for drivers to sustain future gains. Read More: Decoding the Buzzwords at China's Key Political Meet
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