Chinese Stock Market Tops $10T While The Economy Recovers In A Flash


According to data from Bloomberg, the market capitalization of all shares listed in the stock exchanges in Shenzhen and Shanghai hit $10T on Wednesday for the first time since 2015. The Chinese stock market has been hot lately with record IPO proceeds and several promising companies getting ready to start trading in the public markets.


The Chinese IPO market has been creating a new billionaire every week, with health and technology companies in particular attracting investors’ attention. Simultaneously, China’s currency, the Renminbi, has been appreciating against the US dollar. Investors have found a getaway from the low or even negative yielding Western bond markets and invested in China which has 10-year bond yields of 3.2%. Moreover, leading stock and bond index providers have included


China in their benchmarks contributing to the upward trend of the Rrenminbi.

The IMF has predicted an average real growth of 1.9% for China in 2020 while advanced economies are expected to contract by 5.8%, displaying how quickly the 2nd largest economy has recovered from the pandemic.


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