Zoom into China with us: Webinars and Wisdom Galore!
Welcome to the NZCTA Young Associates Newsletter: a monthly-ish digest of happenings and articles for young people interested in the NZ-China space.
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June has been a busy month for us all, with many things wrapping up and coming to a close - but it has also seen many new exciting prospects begin to appear! This June, the YA hosted a Zoom into China webinar which proved incredibly insightful, and we also saw a shift in Covid restrictions in China that may well pave the way for greater investor activity. Finally, a recent survey by the Asia New Zealand Foundation was published that showcased perceptions of Asia in New Zealand - a great read while you’re stuck inside on these seemingly increasingly rainy days. We hope you’re keeping safe and dry with plenty of reading and visual material this June!
#1. China's recovery from zero-Covid restrictions may push equities into bull-market territory for the first time since early 2019.
As we head towards what might look like post-pandemic life, a new report has been released that explores what helped keep our economy afloat over the last two years: our trade with China.
The zero-Covid policy has been regarded by many as the greatest obstacle for investors. China's economy and enterprises have remained dedicated to anti-Covid measures that lack an endgame while other parts of the world try to coexist with the virus.
Chinese stocks have regained investors' favour after Shanghai removed a two-month lockdown on June 1st. On June 28th, the government reduced the quarantine period for travellers entering the country to just 10 days.
According to Morgan Stanley, Beijing's move to cut the length of quarantine in half for inbound travelers could suggest that China intends to gradually do away with its zero-tolerance approach to managing the virus. DBS Group also noted that the shift may restore confidence that easing will diminish the risk of a major blockade in the form of lockdowns, which has happened in more than 40 cities so far this year, including Shanghai, and that economic growth would continue to be a top priority.
Nonetheless, expert opinion remains divided. Some investors believe that the pandemic needs to be curbed to mitigate quarantine; otherwise, the possibility of re-introducing tighter controls could persist.
There is some belief in the market that China will resume regarding economic development as its primary objective. In fact, the CSI 300 rose 1%, with the index entering the bull market for the first time since early 2019, while the Hong Kong Hang Seng also increased 0.9% after restrictions were eased.
#2. Summary: New Zealanders’ Perceptions of Asia and Asian Peoples
#3. Intergenerational Changes, Intergenerational Chances! Our latest event!
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Editors: David, Melanie, Kate and Ava
Disclaimer: Opinions expressed in this newsletter are the sole opinion of the NZCTA Young Associates and do not represent the opinions of the wider New Zealand China Trade Association or any of its executive committee.