Gavekal Dragonomics

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Deregulation And Decoupling For IPOs

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Deregulation And Decoupling For IPOs

Thomas Gatley
27 Mar 2023
China’s securities regulators are simultaneously tightening regulation of offshore listings, and significantly deregulating onshore listings. Thomas argues that the new rules will add momentum to the trend towards US-China financial decoupling by ensuring that the vast majority of Chinese firms list onshore in future.
Webinar: China’s New Agenda

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Webinar: China’s New Agenda

Wei He, Thomas Gatley
24 Mar 2023
Hoping to turn the page on a traumatic 2022, China’s government has unveiled a new agenda to be carried out by fresh faces in 2023. In this webinar our China team discusses the outlook for the economy, the political risks and the drivers for markets.

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The Rivalry Takes Shape

Arthur Kroeber, Yanmei Xie, Tom Miller
23 Mar 2023
Xi Jinping’s three-day state visit to Moscow did not deliver hard plans to deepen economic cooperation between China and Russia, but it did crystalize China’s assertive response to a US-led policy of containment. Now that China is openly competing with the US for global power and influence, Arthur, Yanmei and Tom contend that Beijing’s top priority is to build a countering coalition.

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Hong Kong Seminar — March 2023

Will Denyer, Arthur Kroeber, Louis-Vincent Gave
22 Mar 2023
Will Denyer discussed the banking trouble in the US and how it might affect the Federal Reserve’s course of action, Arthur Kroeber presented on China’s economic outlook and geopolitical strategy, and Louis sought to identify the key themes for investors in 2023.

Featured report

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Macro Update: Reversal, Reopening, Recovery

Dragonomics Team
27 Jan 2023
China’s remarkable reversal of Covid policies in late 2022 has set the stage for an equally unusual economic recovery in 2023. It’s early days yet, but consumer activity is quickly normalizing, and this consumption-led rebound will gather strength in coming months. Our latest quarterly chartbook examines the prospects and market implications of this recovery.

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A Diminished Central Bank
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Wei He
Centralization And Course Correction
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Andrew Batson
Video: The State Of China's Recovery
Christopher Beddor
The View From Taiwan
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Tom Miller
Webinar: The Fallout From SVB
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Will Denyer, Tan Kai Xian, Cedric Gemehl
The Reopening Recovery Is On Track
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Dragonomics Team
Credit Growth Sends A Buy Signal
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Thomas Gatley
Restrained Reflation
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Andrew Batson

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Securing The Western Frontier

Tom Miller
16 Dec 2021
China looks like a winner from the US withdrawal from Afghanistan, now free to tighten its grip on Central Asia. In this DeepChina report, Tom explains the complex reality of the latest round of the "great game." China is getting closer to Russia, skeptical of Afghanistan and Pakistan, and consolidating its economic hold on Turkmenistan.

Stocks

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A User's Guide To The Chinese Stock Market

Thomas Gatley
2 Apr 2019
China’s onshore equity markets are now large and accessible enough that they can no longer be ignored by foreign investors—but idiosyncratic enough that they are hard to understand. This in-depth DeepChina report explains the fundamentals: What is there to invest in? Who owns the market? How can foreigners invest? How is the market regulated?

Bonds

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A User's Guide To The Chinese Bond Market

Wei He, Xiaoxi Zhang
30 Jun 2021
The expansion and opening of China’s onshore renminbi bond market is one of the biggest changes to the structure of global financial markets in recent years, one that investors are still grappling with. In this comprehensive 30-page DeepChina report, our analysts present a guide to the nature and functioning of this important market.

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Behind The Incredible Export Boom

Thomas Gatley
Chinese export growth ostensibly continues to outpace the rest of the world this year, but Thomas believes this could in part be due to misleading data. Exporters have been incentivized to reduce their under-invoicing, which has in turn materially inflated China’s export growth over the past three years.

Managing Covid

The Reopening Recovery Is On Track
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Macro Update: Reversal, Reopening, Recovery
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Webinar: China’s Covid Surge And The Reopening Rally
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A Quicker Road To Reopening
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Strategy Monthly: China's Reopening Rebound
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Ready For Takeoff
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