Chinese Investors Seek Refuge Offshore Amid Domestic Market Fears
Portfolio Pulse from Benzinga Neuro
Chinese investors are increasingly moving their funds to offshore assets, reaching the country's outbound investment cap and complicating Beijing's efforts to support the domestic market and stabilize the yuan. The surge in investments abroad, particularly through the Qualified Domestic Institutional Investor (QDII) program, reflects a lack of confidence in the Chinese market. This trend is occurring despite Beijing's ambitious 5% growth target for 2024 and has been influenced by warnings from international financial experts about investing in China.
March 06, 2024 | 9:35 am
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Goldman Sachs Group's CIO, Sharmin Mossavar-Rahmani, issued warnings against investing in China, contributing to the shift of Chinese investments to offshore assets.
The warnings from Goldman Sachs Group's CIO about investing in China have likely contributed to the lack of confidence among Chinese investors in their domestic market, pushing them towards offshore investments. This could potentially have a negative short-term impact on GS's operations or interests in China due to perceived market instability and policy uncertainties.
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