Navigatie Zoeken
Sluiten

Kies uw locatie en rol om strategie en fondssamenstelling te bekijken

Nederland
  • Global homepage
  • Australia
  • Belgique
  • Botswana
  • Denmark
  • Deutschland
  • España
  • Finland (Suomi)
  • France
  • Hong Kong (香港)
  • Ireland
  • Italia
  • Luxembourg
  • Namibia
  • Nederland
  • Norway
  • Österreich
  • Portugal
  • Singapore
  • South Africa
  • Sweden (Sverige)
  • Switzerland
  • United Kingdom
  • United States
  • International
Professionele belegger
  • Professionele belegger
  • Particuliere belegger

Deze website is bestemd voor professionele beleggers en bevat informatie over onze producten, strategieën en diensten. Denk eraan dat beleggen risico's inhoudt en rendementen uit het verleden geen indicatie vormen voor de toekomst.

Door verder te gaan stemt u in met onze gebruiksvoorwaarden

Diverging investment trends

China fixed asset investment by sector, 2012-2015

Source: Bloomberg

 

Throughout 2015 there has been a growing divergence between the various forms of construction investment in China, as illustrated above. Mark Evans, an analyst in Emerging Market Fixed Income, notes that “although state-driven FAI in infrastructure remains robust and will likely remain so under the new five year plan, in other areas, such as real estate and manufacturing, FAI continues to slow.” Evans notes that the divergence between investment in infrastructure and other capital-intensive industries marks a breakdown in historical correlation between FAI in the three sectors. He believes that this trend will continue over the medium-to-long term as over-capacity in many manufacturing industries and excess inventory levels in residential real estate for smaller cities and commercial property continue to be worked through.

As China continues to rebalance its economy towards services, watch for the continuing decoupling of FAI as real estate and manufacturing slow, but the government continues to support infrastructure spending under China’s thirteenth five-year plan.

The content of this page is intended for investment professionals only and should not be relied upon by anyone else

Bevestig dat u tot deze categorie behoort

Door verder te gaan stemt u in met onze gebruiksvoorwaarden