Source: Global Times
The Financial Times Article of November 5, Title: Anderson of ValmelieGerman: Don't "Give Up on China" One of China's best-known foreign investors said China's ability to create the world's leading technology companies will last longer. Previously, investor sentiment towards the world's second-largest economy fell to its lowest level in decades. "I don't think it's right to abandon China." James Anderson of The Scottish Firm Ofeljeff Investments said, "The goose that laid the golden egg was not killed at all. ”
Anderson is co-manager of the Scottish Mortgage Investment Trust, a subsidiary of Barmelie Jayford, an early investor in Amazon, Tesla and Modena. In China, Anderson has invested in Meituan, Douyin's parent company ByteDance and e-commerce giant Alibaba. There are three Chinese companies on the top 10 investment list of Scottish mortgage investment trusts: Tencent accounts for 4.1% of its total assets, Meituan accounts for 2.9% and electric vehicle manufacturer NIO accounts for 2.8%.
When the Chinese government announced a ban on the for-profit education industry in July, Anderson, like other investors, was caught off guard. Since then, some technology companies, real estate companies and the video game industry have been widely regulated, and stock prices have also been affected. Some have questioned whether Palmeret-LesLieffs is too obsessed with the story of technology-driven China's decades of growth and underestimates the risks of investing in the country.
"We are all very clear that the broader goal of the Chinese Communist Party is to promote prosperity, some form of national consciousness and social stability," Anderson said. "For these reasons, some form of internet regulation is likely to happen again."
But he firmly believes that some Chinese internet platforms "have shown greater innovation capabilities" than their Silicon Valley counterparts. China's public and private investors are shifting their money from larger companies in the reform target industries to smaller, more innovative companies, as well as those that should benefit from the "common prosperity" agenda, such as renewable energy, mass consumption and domestic supply chains. (By Harriet Agnew, translated by Zhang Wang)
Qatar's Al Jazeera article on November 4, original title: Is Saudi Arabia's wealth fund tilting toward China? Saudi Arabia's sovereign wealth fund may begin to invest heavily in Chinese companies, and most of its overseas holdings so far have been limited to the United States and Europe. According to the website of China's top securities regulator (CSRC), saudi public investment funds (pIF), which manages $450 billion of funds, have submitted applications to China for qualified foreign investors. Once approved, the fund will be able to trade rmb-denominated shares directly without having to go through a third party.
For Saudi Arabia, it makes sense to lean toward China, as the country seeks to boost its economic and trade ties with China through investments in its sovereign fund. China is Saudi Arabia's largest trading partner and saudi Aramco's largest customer.
The world's second-largest economy is attractive to national sovereign investment institutions. For example, Russian wealth funds have converted billions of dollars of assets they hold into renminbi assets to reduce the country's exposure to (Western) sanctions. (Translated by Matthew Martin, Translated by Wang Huicong)