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China Bedrock Economy

China Bedrock Economy

A multi-factor approach to capture high quality contributors to China's real economy growth

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China A Bedrock

2803 (HKD) | 9803 (USD)

# A-shares# Smart Beta# Multi-factor# Value# LowVol# Size# Quality
China A New Economy

3173 (HKD) | 9173 (USD)

# A-shares# New Economy# NewInfrastructure# 14FYP# QualityGrowth# 2060 net-zero
Premia China STAR50 ETF

3151 (HKD) | 83151 (RMB) | 9151 (USD)

# A-shares# STAR BOARD# Semiconductor# AI# Biotech# 2060 net-zero
Asia Innovative Tech and Metaverse

3181 (HKD) | 9181 (USD)

# Smart EV# AI# Robotics# Automation# 5G# eSports# Semiconductor
Emerging ASEAN Titans

2810 (HKD) | 9810 (USD)

# Vietnam# Thailand# Malaysia# Philippines# Indonesia
MSCI Vietnam

2804 (HKD) | 9804 (USD)

# Supply Chain# Middle Income Class# Consumption Upgrade
China Government Bonds (Unhedged)

2817 (HKD) | 82817 (RMB) | 9817 (USD)

China Government Bonds (USD Hedged)

9177 (USD) NEW

# China Bonds# Long Duration# Government Bonds# RMB# Index Inclusion# USD Hedged
China USD Property Bonds

3001 (HKD) | 83001 (RMB) | 9001 (USD)

# China Bonds# High Yield# USD# Asia Credit
US Treasury Floating Rate (Dis)

3077 (HKD) | 9077 (USD)

US Treasury Floating Rate (Acc)

9078 (USD)

# 3-month T bills# One Week Duration# Tax Efficient
China A Bedrock
2803 (HKD) | 9803 (USD)
China A New Economy
3173 (HKD) | 9173 (USD)
Premia China STAR50 ETF
3151 (HKD) | 83151 (RMB) | 9151 (USD)
Asia Innovative Tech and Metaverse
3181 (HKD) | 9181 (USD)
Emerging ASEAN Titans
2810 (HKD) | 9810 (USD)
MSCI Vietnam
2804 (HKD) | 9804 (USD)
China Government Bonds (Unhedged)
2817 (HKD) | 82817 (RMB) | 9817 (USD)
China Government Bonds (USD Hedged)
9177 (USD)
China USD Property Bonds
3001 (HKD) | 83001 (RMB) | 9001 (USD)
US Treasury Floating Rate (Dis)
3077 (HKD) | 9077 (USD)
US Treasury Floating Rate (Acc)
9078 (USD)

FEATURED INSIGHTS & WEBINAR
premia headline
Unlike in developed markets, healthcare is actually a growing “new economy” sector in China that offers tremendous opportunities for global investors. As the Chinese economy evolves, the sector also enjoys fundamental tailwinds such as rising demand for healthcare and wellness services as living standards improve, and an aging population with low birth rates. Meanwhile being a growth sector with public interest concerns that is also popular among retail investors, the healthcare sector also experiences volatility swings and regulation tailwinds from time to time such that taking a diversified approach with consideration for fundamentals may be more optimal. In this article, we would take a closer look at the various underlying sub-segments, review their characteristics and also highlight some of the leading A-share companies driving the growth opportunities in their respective space.
Sep 20, 2022
Unlike in developed markets, healthcare is actually a growing “new economy” sector in China that offers tremendous opportunities for global investors. As the Chinese economy evolves, the sector also enjoys fundamental tailwinds such as rising demand for healthcare and wellness services as living standards improve, and an aging population with low birth rates. Meanwhile being a growth sector with public interest concerns that is also popular among retail investors, the healthcare sector also experiences volatility swings and regulation tailwinds from time to time such that taking a diversified approach with consideration for fundamentals may be more optimal. In this article, we would take a closer look at the various underlying sub-segments, review their characteristics and also highlight some of the leading A-share companies driving the growth opportunities in their respective space.
Sep 20, 2022

Asia metaverse – the coming of age of virtual influencers
If the KOLs (key opinion leaders) have stormed the world with livestreaming and short videos globally in recent years, the metaverse is bringing on a new cohort of KOLs across Asia – virtual influencers. In fact, Asia is already seeing very rapid growth of virtual influencers, given the high internet penetration, digital economy and demographic tailwinds across the region. From Korea, China, Japan to Singapore, Malaysia and Thailand, brands and marketers across industries are increasingly ready to adopt and experiment, especially those targeting young consumers. In fact according to Jing Daily estimates, of the 80% of Chinese netizens following online celebrities, over 60% follow virtual idols and over half spending at least RMB500 a month on related purchases. Virtual KOLs also are said to often have interaction rates three times higher than their real counterparts. In this article, we shall share more about this coming of age of virtual influencers in Asia, with a deeper dive into the observations in Korea where the virtual influencers are bringing important new elements to the K-pop industry.
Sep 9, 2022
If the KOLs (key opinion leaders) have stormed the world with livestreaming and short videos globally in recent years, the metaverse is bringing on a new cohort of KOLs across Asia – virtual influencers. In fact, Asia is already seeing very rapid growth of virtual influencers, given the high internet penetration, digital economy and demographic tailwinds across the region. From Korea, China, Japan to Singapore, Malaysia and Thailand, brands and marketers across industries are increasingly ready to adopt and experiment, especially those targeting young consumers. In fact according to Jing Daily estimates, of the 80% of Chinese netizens following online celebrities, over 60% follow virtual idols and over half spending at least RMB500 a month on related purchases. Virtual KOLs also are said to often have interaction rates three times higher than their real counterparts. In this article, we shall share more about this coming of age of virtual influencers in Asia, with a deeper dive into the observations in Korea where the virtual influencers are bringing important new elements to the K-pop industry.
Sep 9, 2022

Climate change in practice: deciphering the energy situation in Sichuan
Sichuan has a very real climate change issue to manage this year. After extreme heatwave and drought causing power rationing for industrial users for two weeks, the province is now quickly re-gearing for Level IV flood emergency alert. While most factories are able to resume production now, should we be concerned especially with memories from the power crunch actions last year? What would be the impacts and ripple effects we should pay attention to? In this article we reviewed the background triggering the Sichuan situation, and why we believe the power rationing events are more pre-emptive in nature and energy security is very carefully managed in the planned economy of China.
Aug 31, 2022
Sichuan has a very real climate change issue to manage this year. After extreme heatwave and drought causing power rationing for industrial users for two weeks, the province is now quickly re-gearing for Level IV flood emergency alert. While most factories are able to resume production now, should we be concerned especially with memories from the power crunch actions last year? What would be the impacts and ripple effects we should pay attention to? In this article we reviewed the background triggering the Sichuan situation, and why we believe the power rationing events are more pre-emptive in nature and energy security is very carefully managed in the planned economy of China.
Aug 31, 2022

Hedge or not hedge? Asia’s first ETF for Chinese government and policy bond with both RMB unhedged and USD hedged optionality
Global markets have been subject to higher volatility so far in 2022 amid escalating inflation and recession risks. The US rate hike cycle has added further pressure to the dollar return of most foreign-currency-denominated assets due to the strengthening dollar. In this article, we describe the genesis behind the recent addition of USD hedged unit class to our Premia China Treasury and Policy Bank Bond Long Duration ETF (9177.HK), which is the first among peers to offer USD hedging feature in Asia. For investors that are mindful of mark to market risk amid continued US interest rate hikes, as well asset owners with long duration allocation needs, the Premia China Treasury and Policy Bank Bond Long Duration ETF is a unique tool that provides access to the long duration Chinese government and policy bank bonds with strong A1 sovereign bond rating, competitive yield of over 3%, stable yield volatility and now with the USD hedged unit class, additional optionality to capture the steady yield of China sovereign bonds whilst minimizing exchange rate risks for RMB.
Aug 18, 2022
Global markets have been subject to higher volatility so far in 2022 amid escalating inflation and recession risks. The US rate hike cycle has added further pressure to the dollar return of most foreign-currency-denominated assets due to the strengthening dollar. In this article, we describe the genesis behind the recent addition of USD hedged unit class to our Premia China Treasury and Policy Bank Bond Long Duration ETF (9177.HK), which is the first among peers to offer USD hedging feature in Asia. For investors that are mindful of mark to market risk amid continued US interest rate hikes, as well asset owners with long duration allocation needs, the Premia China Treasury and Policy Bank Bond Long Duration ETF is a unique tool that provides access to the long duration Chinese government and policy bank bonds with strong A1 sovereign bond rating, competitive yield of over 3%, stable yield volatility and now with the USD hedged unit class, additional optionality to capture the steady yield of China sovereign bonds whilst minimizing exchange rate risks for RMB.
Aug 18, 2022

The rise and rise of the Chinese economy
Notwithstanding the cautious sentiment towards Chinese equities over the past year, the fundamentals suggest that it would be increasingly difficult to ignore Chinese equities as its economic heft and importance continues to grow. In this article, our Senior Advisor Say Boon Lim analyzes the fundamentals of the Chinese economy and why it makes sense for global allocators to deploy Chinese equities for diversification and growth opportunities as the alternative would be a deliberate underweight decision for a large part of the world's GDP and the key driver for global productivity growth.
Aug 11, 2022
Notwithstanding the cautious sentiment towards Chinese equities over the past year, the fundamentals suggest that it would be increasingly difficult to ignore Chinese equities as its economic heft and importance continues to grow. In this article, our Senior Advisor Say Boon Lim analyzes the fundamentals of the Chinese economy and why it makes sense for global allocators to deploy Chinese equities for diversification and growth opportunities as the alternative would be a deliberate underweight decision for a large part of the world's GDP and the key driver for global productivity growth.
Aug 11, 2022

Would price intervention for polysilicon upend growth trajectory for the photovoltaic industry in China?
After lithium, coal and pork, polysilicon appears to be the next in line for potential government price interventions. In fact, polysilicon prices which have been on nine consecutive weeks of spiking spree, have reached 10-year high and the high prices have caused severe supply chain disruptions and suppressed domestic demand for solar panels – and in the process slow down the solar infrastructure build out in China. Such price intervention thus is envisaged to be a positive regulating event, that would shift the industry dynamics from upstream biased to more midstream and downstream actors, to rebalance the supply chain economics for long run sustainable growth of the industry ecosystem. In this article, we shall analyze this in greater details, and explain why despite the headline concerns it would be a positive event for the sector leaders including related constituents in the Premia ETFs, while the polysilicon market is expected to remain tight throughout the year due to persistent strong global demand and supply shortages.
Aug 4, 2022
After lithium, coal and pork, polysilicon appears to be the next in line for potential government price interventions. In fact, polysilicon prices which have been on nine consecutive weeks of spiking spree, have reached 10-year high and the high prices have caused severe supply chain disruptions and suppressed domestic demand for solar panels – and in the process slow down the solar infrastructure build out in China. Such price intervention thus is envisaged to be a positive regulating event, that would shift the industry dynamics from upstream biased to more midstream and downstream actors, to rebalance the supply chain economics for long run sustainable growth of the industry ecosystem. In this article, we shall analyze this in greater details, and explain why despite the headline concerns it would be a positive event for the sector leaders including related constituents in the Premia ETFs, while the polysilicon market is expected to remain tight throughout the year due to persistent strong global demand and supply shortages.
Aug 4, 2022
See More Insights
Chart of the Week
  • David Lai
    David Lai , CFA

    Partner, Co-CIO

President Xi emphasized the country should strengthen its scientific and technological innovation during the latest meeting of the Central Comprehensively Deepening Reforms Commission. Analysts suggest that the state will play a more active role in driving the advancement in various aspects, such as semiconductor, artificial intelligence, biotech, renewables, and aerospace, etc. The key message is no different from what we have observed in the past few years that China is eager to fast-track the development in hardcore technologies. On a positive note, national champions are reporting a satisfactory progress. Baidu has revealed the achievement of its 2nd generation Kunlun chip, that runs 3 times faster than its predecessor and has a cost advantage over its peers aboard. Huawei has also launched the newest Mate 50 series mobile phone, equipped with a domestic operating system Harmony OS 3.0 and a satellite communication function leverage on BeiDou navigation system, an alternative to the GPS.
Sep 14, 2022
FROM OUR PARTNERS
Chart of the Week
  • David Lai
    David Lai , CFA

    Partner, Co-CIO

President Xi emphasized the country should strengthen its scientific and technological innovation during the latest meeting of the Central Comprehensively Deepening Reforms Commission. Analysts suggest that the state will play a more active role in driving the advancement in various aspects, such as semiconductor, artificial intelligence, biotech, renewables, and aerospace, etc. The key message is no different from what we have observed in the past few years that China is eager to fast-track the development in hardcore technologies. On a positive note, national champions are reporting a satisfactory progress. Baidu has revealed the achievement of its 2nd generation Kunlun chip, that runs 3 times faster than its predecessor and has a cost advantage over its peers aboard. Huawei has also launched the newest Mate 50 series mobile phone, equipped with a domestic operating system Harmony OS 3.0 and a satellite communication function leverage on BeiDou navigation system, an alternative to the GPS.
Sep 14, 2022
FEATURED INSIGHTS & WEBINAR
premia headline
Unlike in developed markets, healthcare is actually a growing “new economy” sector in China that offers tremendous opportunities for global investors. As the Chinese economy evolves, the sector also enjoys fundamental tailwinds such as rising demand for healthcare and wellness services as living standards improve, and an aging population with low birth rates. Meanwhile being a growth sector with public interest concerns that is also popular among retail investors, the healthcare sector also experiences volatility swings and regulation tailwinds from time to time such that taking a diversified approach with consideration for fundamentals may be more optimal. In this article, we would take a closer look at the various underlying sub-segments, review their characteristics and also highlight some of the leading A-share companies driving the growth opportunities in their respective space.
Sep 20, 2022
Unlike in developed markets, healthcare is actually a growing “new economy” sector in China that offers tremendous opportunities for global investors. As the Chinese economy evolves, the sector also enjoys fundamental tailwinds such as rising demand for healthcare and wellness services as living standards improve, and an aging population with low birth rates. Meanwhile being a growth sector with public interest concerns that is also popular among retail investors, the healthcare sector also experiences volatility swings and regulation tailwinds from time to time such that taking a diversified approach with consideration for fundamentals may be more optimal. In this article, we would take a closer look at the various underlying sub-segments, review their characteristics and also highlight some of the leading A-share companies driving the growth opportunities in their respective space.
Sep 20, 2022

Asia metaverse – the coming of age of virtual influencers
If the KOLs (key opinion leaders) have stormed the world with livestreaming and short videos globally in recent years, the metaverse is bringing on a new cohort of KOLs across Asia – virtual influencers. In fact, Asia is already seeing very rapid growth of virtual influencers, given the high internet penetration, digital economy and demographic tailwinds across the region. From Korea, China, Japan to Singapore, Malaysia and Thailand, brands and marketers across industries are increasingly ready to adopt and experiment, especially those targeting young consumers. In fact according to Jing Daily estimates, of the 80% of Chinese netizens following online celebrities, over 60% follow virtual idols and over half spending at least RMB500 a month on related purchases. Virtual KOLs also are said to often have interaction rates three times higher than their real counterparts. In this article, we shall share more about this coming of age of virtual influencers in Asia, with a deeper dive into the observations in Korea where the virtual influencers are bringing important new elements to the K-pop industry.
Sep 9, 2022
If the KOLs (key opinion leaders) have stormed the world with livestreaming and short videos globally in recent years, the metaverse is bringing on a new cohort of KOLs across Asia – virtual influencers. In fact, Asia is already seeing very rapid growth of virtual influencers, given the high internet penetration, digital economy and demographic tailwinds across the region. From Korea, China, Japan to Singapore, Malaysia and Thailand, brands and marketers across industries are increasingly ready to adopt and experiment, especially those targeting young consumers. In fact according to Jing Daily estimates, of the 80% of Chinese netizens following online celebrities, over 60% follow virtual idols and over half spending at least RMB500 a month on related purchases. Virtual KOLs also are said to often have interaction rates three times higher than their real counterparts. In this article, we shall share more about this coming of age of virtual influencers in Asia, with a deeper dive into the observations in Korea where the virtual influencers are bringing important new elements to the K-pop industry.
Sep 9, 2022

Climate change in practice: deciphering the energy situation in Sichuan
Sichuan has a very real climate change issue to manage this year. After extreme heatwave and drought causing power rationing for industrial users for two weeks, the province is now quickly re-gearing for Level IV flood emergency alert. While most factories are able to resume production now, should we be concerned especially with memories from the power crunch actions last year? What would be the impacts and ripple effects we should pay attention to? In this article we reviewed the background triggering the Sichuan situation, and why we believe the power rationing events are more pre-emptive in nature and energy security is very carefully managed in the planned economy of China.
Aug 31, 2022
Sichuan has a very real climate change issue to manage this year. After extreme heatwave and drought causing power rationing for industrial users for two weeks, the province is now quickly re-gearing for Level IV flood emergency alert. While most factories are able to resume production now, should we be concerned especially with memories from the power crunch actions last year? What would be the impacts and ripple effects we should pay attention to? In this article we reviewed the background triggering the Sichuan situation, and why we believe the power rationing events are more pre-emptive in nature and energy security is very carefully managed in the planned economy of China.
Aug 31, 2022

Hedge or not hedge? Asia’s first ETF for Chinese government and policy bond with both RMB unhedged and USD hedged optionality
Global markets have been subject to higher volatility so far in 2022 amid escalating inflation and recession risks. The US rate hike cycle has added further pressure to the dollar return of most foreign-currency-denominated assets due to the strengthening dollar. In this article, we describe the genesis behind the recent addition of USD hedged unit class to our Premia China Treasury and Policy Bank Bond Long Duration ETF (9177.HK), which is the first among peers to offer USD hedging feature in Asia. For investors that are mindful of mark to market risk amid continued US interest rate hikes, as well asset owners with long duration allocation needs, the Premia China Treasury and Policy Bank Bond Long Duration ETF is a unique tool that provides access to the long duration Chinese government and policy bank bonds with strong A1 sovereign bond rating, competitive yield of over 3%, stable yield volatility and now with the USD hedged unit class, additional optionality to capture the steady yield of China sovereign bonds whilst minimizing exchange rate risks for RMB.
Aug 18, 2022
Global markets have been subject to higher volatility so far in 2022 amid escalating inflation and recession risks. The US rate hike cycle has added further pressure to the dollar return of most foreign-currency-denominated assets due to the strengthening dollar. In this article, we describe the genesis behind the recent addition of USD hedged unit class to our Premia China Treasury and Policy Bank Bond Long Duration ETF (9177.HK), which is the first among peers to offer USD hedging feature in Asia. For investors that are mindful of mark to market risk amid continued US interest rate hikes, as well asset owners with long duration allocation needs, the Premia China Treasury and Policy Bank Bond Long Duration ETF is a unique tool that provides access to the long duration Chinese government and policy bank bonds with strong A1 sovereign bond rating, competitive yield of over 3%, stable yield volatility and now with the USD hedged unit class, additional optionality to capture the steady yield of China sovereign bonds whilst minimizing exchange rate risks for RMB.
Aug 18, 2022

The rise and rise of the Chinese economy
Notwithstanding the cautious sentiment towards Chinese equities over the past year, the fundamentals suggest that it would be increasingly difficult to ignore Chinese equities as its economic heft and importance continues to grow. In this article, our Senior Advisor Say Boon Lim analyzes the fundamentals of the Chinese economy and why it makes sense for global allocators to deploy Chinese equities for diversification and growth opportunities as the alternative would be a deliberate underweight decision for a large part of the world's GDP and the key driver for global productivity growth.
Aug 11, 2022
Notwithstanding the cautious sentiment towards Chinese equities over the past year, the fundamentals suggest that it would be increasingly difficult to ignore Chinese equities as its economic heft and importance continues to grow. In this article, our Senior Advisor Say Boon Lim analyzes the fundamentals of the Chinese economy and why it makes sense for global allocators to deploy Chinese equities for diversification and growth opportunities as the alternative would be a deliberate underweight decision for a large part of the world's GDP and the key driver for global productivity growth.
Aug 11, 2022

Would price intervention for polysilicon upend growth trajectory for the photovoltaic industry in China?
After lithium, coal and pork, polysilicon appears to be the next in line for potential government price interventions. In fact, polysilicon prices which have been on nine consecutive weeks of spiking spree, have reached 10-year high and the high prices have caused severe supply chain disruptions and suppressed domestic demand for solar panels – and in the process slow down the solar infrastructure build out in China. Such price intervention thus is envisaged to be a positive regulating event, that would shift the industry dynamics from upstream biased to more midstream and downstream actors, to rebalance the supply chain economics for long run sustainable growth of the industry ecosystem. In this article, we shall analyze this in greater details, and explain why despite the headline concerns it would be a positive event for the sector leaders including related constituents in the Premia ETFs, while the polysilicon market is expected to remain tight throughout the year due to persistent strong global demand and supply shortages.
Aug 4, 2022
After lithium, coal and pork, polysilicon appears to be the next in line for potential government price interventions. In fact, polysilicon prices which have been on nine consecutive weeks of spiking spree, have reached 10-year high and the high prices have caused severe supply chain disruptions and suppressed domestic demand for solar panels – and in the process slow down the solar infrastructure build out in China. Such price intervention thus is envisaged to be a positive regulating event, that would shift the industry dynamics from upstream biased to more midstream and downstream actors, to rebalance the supply chain economics for long run sustainable growth of the industry ecosystem. In this article, we shall analyze this in greater details, and explain why despite the headline concerns it would be a positive event for the sector leaders including related constituents in the Premia ETFs, while the polysilicon market is expected to remain tight throughout the year due to persistent strong global demand and supply shortages.
Aug 4, 2022
See More Insights
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