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Investors take heed of the tale of two Chinas

New China sectors such as services are growing faster, while Old China sectors such as steel manufacturing are losing momentum.

Consumption is the engine of the New China, as the younger generation - who are more self-indulgent than their forebears because the former grew up in an era of prosperity - form a greater proportion of the population.

CHINA'S stock market cannot be taken at face value and the quadruple-whammy events of January 2016 are a case in point. The CSI 300 index ended 21 per cent down for January!

The market selloff, coupled with fears of a sharp yuan depreciation, George Soros's and several other major hedge...

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