Theme Highlight:

Valuations in the China internet sector are still hovering near all-time lows even as positive developments continue to mount. China’s leadership has reinforced the end of the regulatory cycle that has weighed on the sector for the past two years. Furthermore, China is relaxing its zero COVID approach. President Xi has reaffirmed the 5.5% GDP growth target, meaning more stimulus could be on the way for an economy that is not currently facing the same inflationary pressures as its Western peers. In this season’s China Internet Report, we explore the key catalysts that could provide a tailwind for China equities and the internet sector.

Report Highlights:

• The end of the internet regulatory cycle
• The relaxation of China’s Zero COVID policy
• Return to growth for China internet as China lowers rates

China Internet Sector Earnings Report Contents:

• Subsector Analysis
• Theme Highlight: Catalysts for China Internet “The Three R’s”: Regulation Reprieve, Relaxation of Zero COVID, & Return to Growth
• KWEB Top 10 Holdings Earnings Update

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