China consumers seen as key amid hot-money fear
Matthews Asia CIO Robert Horrocks spies opportunities from changing spending patterns in China. And while BoA Merrill warns of hot-money inflows, it too favours the consumer sector.
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Investors are not focused enough on changing consumer-spending patterns in China that are driving business growth and investment opportunities, says Robert Horrocks of Matthews Asia.
The CIO sees 7-8% economic growth in China as sustainable, and in a recent sit-down with AsianInvestor noted low stock valuations of nine-times 2013 earnings with a dividend yield of 2.7%.
“You have a high rate of productivity growth [in China], good profitability in listed companies and there is no…
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