주요 인사이트 & 웨비나
Are all smart beta products smart? This is a question I've asked a few times over the last few years but always got a "nuanced" answer depending on the product being marketed.
May 15, 2017
Can you trust the numbers reported by all Chinese listed corporations? Absolutely not. But that doesn't mean smart beta can't generate alpha. With help from our friends at Rayliant, we dive into a factor metric that allows us to deprioritize earnings manipulators and to generate alpha from their efforts.
Jan 17, 2017
토픽별
주간 차트
David Lai , CFA
CFA
Foreign interests in China’s bond market shown sustained growth, with foreign institutions holding over RMB4.44tn in Chinese bonds by the end of Apr. This marks the third consecutive month of increased foreign investment, signaling confidence in the country’s financial stability. Notably, China government bonds (CGBs) comprised the largest portion of these holdings—RMB2.11tn or 47.5%—demonstrating their appeal as secure and attractive assets. The improving sentiment is underscored by the continued rise in demand for renminbi assets. In Apr alone, foreign investors added a net US$10.9bn to their holdings of domestic bonds. Despite a modest foreign exchange deficit, China’s overall foreign exchange market has remained stable, supported by a strong trade surplus in goods, which hit a four-month high of US$31.6bn. Further bolstering investor confidence, Chinese banks are expected to see a periodic surplus in foreign exchange sales, aided by supportive monetary policies such as interest rate and reserve requirement ratio cuts. Progress in high-level Sino-US trade negotiations and a temporary easing of tariffs also contribute to a more favorable investment climate. The growing foreign appetite for CGBs highlights their strength as stable, long-term assets. Backed by strong macroeconomic fundamentals and improving trade dynamics, China’s bond market continues to present attractive opportunities for global investors seeking diversification and steady returns.
May 26, 2025
