In this CIO Viewpoint Equity – China: More stimulus in the making – we evaluate the recent monetary and fiscal stimulus announcements. We expect further support measures to be announced in the coming months. Market volatility will likely remain high, but strong stimulus measures could uplift the economy in Q4 and drive an overall rerating for Chinese equities.

Key takeaways:

  • China announced significant monetary stimulus measures on September 24 which triggered strong market reactions. They followed the Third Plenum meeting in July which primarily focused on long-term growth plans. 
  • While the Finance Ministry did not declare the size of the fiscal package at its press conference on Saturday October 12, we expect further support measures for the economy will be announced in the coming weeks and months. 
  • While the market volatility continues, we believe these strong stimulus measures are likely to help boost macroeconomic data in late Q4 this year, which should support Chinese equities on a sustainable basis.

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The CIO Viewpoint below is available to download. Please refer to the Important Information at the end of the memo for disclosures and risk warnings.

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