The Investor's Guide to Asia

China's economy and its markets have faced a number of headwinds in 2022. Slowing growth, geopolitical uncertainty, the impact of the country's Covid policy, and how the PBOC, or the Chinese central bank, is manoeuvring how they ease monetary and fiscal policy as most other global banks move in a more hawkish direction. But despite all that, the opening up of China's onshore financial markets has been kicking into high gear throughout this same period. In fact, we've seen a drumbeat of announcements about the world's biggest investment companies, Fidelity International included, moving deeper into China's onshore market, either by setting up wholly-owned local subsidiaries or, for instance, many global banks who have been taking control of their existing joint ventures. In this episode, Catherine Yeung, Investment Director, and Marty Dropkin, Head of Equities, Asia Pacific, are joined by Jing Ning, a senior advisor for China equities, and Alvin Cheng, Fixed Income Portfolio Manager, to discuss how China’s local markets and its onshore investment industry are opening, expanding, and ever evolving. With additional contributions from Helen Huang, Managing Director, China, Senan Yuen, Head of Investment, China, and Lily Cong, Chief Representative, Beijing Representative Office. Read more at fidelityinternational.comSee omnystudio.com/listener for privacy information.

Chinese equities markets have been volatile in the wake of last month’s Communist Party Congress in Beijing, where the country's leadership line up for the next five years was revealed. Investors have been looking for signs or signals in terms of what's going to happen as we enter a new phase of the Chinese growth story under President Xi Jinping's leadership. Against an evolving backdrop of signature policies like common prosperity and dual circulation, China is seeing weak external demand creating challenges for manufacturers. Moreover, monetary policy is diverging between China and the rest of the world, not to mention Covid-related restrictions where domestic consumers are changing their spending patterns as the rest of Asia eyes China's reopening. In this episode, Catherine Yeung, Investment Director, and Marty Dropkin, Head of Equities, Asia Pacific, are joined by Morgan Lau, Fixed Income Portfolio Manager, and Monica Li, Director of Research, Equities. With additional contributions from Victoria Mio, Head of Equity Research, Asia Pacific, and Ben Li, Analyst & Portfolio Manager. Read more at fidelityinternational.comSee omnystudio.com/listener for privacy information.

So much of the investment conversation is dominated by companies that have already gone public. But it's not always just about listed companies. Investors in private assets, particularly in equities, for many years have considered Asia and especially China as one of the most exciting markets anywhere. And while there have been challenges and setbacks along the way, the private asset space in Asia and China continues to develop at a really impressive pace. In this episode, Catherine Yeung, Investment Director, and Marty Dropkin, Head of Equities, Asia Pacific, are joined by Jarlon Tsang, Managing Partner & Head of China at Eight Roads, and Jackie Chien, Director of Capital Markets. With additional contributions from portfolio managers Vivian Liu and Dale Nicholls. Read more at fidelityinternational.comSee omnystudio.com/listener for privacy information.

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To many outsiders, Chinese equity investing might conjure up images of a huge momentum-fuelled market where investors revel in speculation and sustainability is an alien concept. But developments on the ground in China show how stereotypes like this are swiftly becoming outdated. The country's markets have been changing shape over the last decade as institutional influence expands in the onshore market and foreign investors increase their exposure. A growing awareness of ESG has followed close behind. In this episode, Catherine Yeung, Investment Director, and Marty Dropkin, Head of Equities, Asia Pacific, are joined by two of Fidelity’s sustainable investment team: Director of Sustainable Investing & Portfolio Manager Flora Wang and Global Head of Stewardship and Sustainable Investing Jenn-Hui Tan. With additional contributions from Richard Edgar, Editor-in-Chief, Eric Zhu, Consumer Staples Analyst, and Binyu Zhao, Sustainable Investing Associate. Read more at fidelityinternational.com  ------- Help us make podcasts that give you, our listeners, what you want. Take this short survey and we'll enter you in to a prize draw for £250 of Amazon vouchers or the equivalent donation to a charity of your choice. Entries close September 10th. Go on, click on the link - we really want to hear what you have to say. fidelityinternational.com/survey --------See omnystudio.com/listener for privacy information.

Help us make podcasts that give you, our listeners, what you want. Take this short survey and we'll enter you in to a prize draw for £250 of Amazon vouchers or the equivalent donation to a charity of your choice. Entries close September 10th. Go on, click on the link - we really want to hear what you have to say. fidelityinternational.com/survey  See omnystudio.com/listener for privacy information.

The phrase "common prosperity" has certainly been getting a lot of air time recently, both domestically in China as well as around the world. Investors have come to know this campaign through a series of tighter regulations across a number of industries within China. But what does it really mean for companies and investors, or even the broader economy? Hosts Catherine Yeung, Investment Director, and Marty Dropkin, Head of Asian Fixed Income & Hong Kong Investments, are joined by Equity Analyst & Portfolio Manager Yuanlin Lang and Senior Credit Analyst & Portfolio Manager Ming Gong to find out how the three key sectors of healthcare, education, and housing - commonly referred to in China as the 'three mountains' because they represent the rising burden of the cost of living for many households - are adjusting. With additional contributions from David Hoidal, CEO of the Shanghai-based hospital operator DeltaHealth, and Tina Tian, Equity Portfolio Manager at Fidelity.  Read more at fidelityinternational.com ------------------- Help us make podcasts that give you, our listeners, what you want. Take this short survey and we'll enter you in to a prize draw for £250 of Amazon vouchers or the equivalent donation to a charity of your choice. Entries close September 10th. Go on, click on the link - we really want to hear what you have to say. fidelityinternational.com/surveySee omnystudio.com/listener for privacy information.

Now over two years into this pandemic and the world is still battling some serious supply chain disruptions - all the more so, of course, with the war in Ukraine and sanctions on Russia, plus Covid-related lockdowns in China. How are companies reacting to the constant stream of disruptions and what are they doing to help mitigate risk? What should China investors be wary of and where are the opportunities? Catherine Yeung, Investment Director, and Marty Dropkin, Head of Asian Fixed Income & Hong Kong Investments, are joined by Fixed Income Portfolio Manager Belinda Liao and Equity Analyst & Portfolio Manager Terence Tsai to discuss how China is navigating through these supply chain disruptions. With additional contributions from Charvi Pandey, Equity Analyst, and Ben Li, Equity Analyst & Portfolio Manager. Read more at fidelityinternational.comSee omnystudio.com/listener for privacy information.

A lot of the financial headlines we’re seeing about China lately involve debt of one form or another. It could be a real estate company that borrowed too much and got into trouble or a new macro policy aiming to rein in leverage in the banking system. But it’s important to differentiate between bad debt and good debt. While companies going bust may be newsworthy, this can also help in reducing so called ‘moral hazard’ if it results in credit risk being priced better by investors. While another positive force is China’s onshore bond market which has nearly doubled in the last five years, and is now the second biggest bond market in the world. To help explore China's debt markets, Catherine Yeung, Investment Director, and Marty Dropkin, Head of Asian Fixed Income & Hong Kong Investments, are joined by George Efstathopoulos, Multi-Asset Portfolio Manager, and Monica Li, Equities Director. With additional contributions from Olivia He, Portfolio Manager, and Claire Xiao, Credit Analyst. Read more at fidelityinternational.comSee omnystudio.com/listener for privacy information.

China’s labour pool is shrinking as the population ages and more people retire than enter the workforce. How people save and invest as they think about wealth preservation signals big challenges and opportunities for China’s pension system development. So, how will government policy seek to ensure that the corporate sector remains dynamic and innovative, and can keep attracting the talent it needs? What sectors stand to benefit as a very different, younger generation increases its purchasing power? To help investigate these questions and more, Paras Anand, Global Chief Investment Officer for Asia Pacific, is joined by three of Fidelity’s portfolio managers, each with a keen interest in the changes underway in China’s population: Aneta Wynimko, Hyomi Jie, and Morgan Lau. With additional contributions from Casey McLean, Portfolio Manager, Catherine Yeung, Investment Director, Lily Cong, Chief Representative for Fidelity’s Beijing Representative Office, and Ren Cheng, Senior Research Advisor at Fidelity Investments in the US. Read more at fidelityinternational.comSee omnystudio.com/listener for privacy information.