Valuations of Chinese stocks are 'way too low,' according to Shaun Rein, founder and managing director of the China Market Research Group.
China recorded its first month of inflation in February after four months of deflation, new figures showed, with the consumer price index climbing 0.7% year-on-year after a 0.8% annual decline in January.
However, Rein attributed this to the Lunar New Year period, and insisted that deflation "still looms over the Chinese economy." He suggested that in the short-term, global luxury brands could continue to struggle with a lack of Chinese demand, and that domestic neighborhood electric vehicle manufacturers could be in for a tough run.China's well-documented economic struggles have led to broad declines in its stock markets over the past year, as growth was weighed down by a slump in real estate and exports. The Chinese government is targeting 5% growth in 2024, having notched 5.2% in 2023.
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