Investors are betting that, given the objective of achieving a growth rate of 5.0% in 2024, the Beijing authorities will continue to stimulate the economy, particularly by adopting a more expansionary monetary policy.
Everything suggests that rates will remain upward since China has deflated since October.
Like Japan or the eurozone in the past, the Chinese central bank will, therefore, have to intervene to revive demand and halt deflation.
We invest in Chinese government bonds as part of our defensive portfolio and in Chinese equities across all our portfolios.
