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JPM Asset Mgmt: Institutional Investors Remain Cautious on Mainland Recovery
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Chaoping Zhu, Shanghai-based Global Market Strategist, J.P. Morgan Asset Management, commented on China's latest GDP and its impact on investments. He said that China's latest economic data displayed a stark contrast between domestic economic weakness and export resilience. The real GDP growth in the fourth quarter of 2025 eased to 4.5% YoY (below the 4.8% in the third quarter of 2025), meeting market expectations. Nevertheless, the annual GDP growth still reached the government's target of 5%. Despite macroeconomic headwinds, the Chinese stock market remained resilient, mainly driven by leaders exposed to the global AI trend, Zhu said. Policymakers seemed inclined to maintain a moderate and sustainable bull market, appearing cautious about introducing aggressive stimulus measures in the short term. Since China's economic growth reached a 5.4% YoY in the first quarter of 2025, it has been the third consecutive quarter of slowing growth. Although domestic demand slackened, exports maintained strong momentum. Despite a decline in exports to the US after April, strong exports to Europe, ASEAN, and other EMs led to a total export growth of 5.5% for the entire year, recording a trade surplus of USD1.2 trillion. China's efficient supply chain, competitive costs, and leading position in advanced manufacturing juiced immense growth in high-tech products, mechanical and electrical products, automobiles, and integrated circuits. AASTOCKS Financial News Website: www.aastocks.com |
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