This Julius Baer podcast features Richard Tang interviewing Hong Hao, Grow's chief economist, about the positive market reaction to China's National People's Congress (NPC). The discussion analyzes the NPC's economic targets (5% GDP growth, 4% fiscal deficit), noting the positive language used regarding consumption and innovation as key drivers of the market's strong response, particularly in the tech sector. Hao highlights the significant role of the DeepSeek AI technology breakthrough in boosting Chinese tech valuations and the substantial southbound inflows from mainland Chinese investors into Hong Kong. While acknowledging the rally's speed and potential overvaluation, Hao cautions against chasing the market at current levels, advising investors to wait for a more favorable entry point. The discussion also touches on the ongoing US-China trade war and its impact on both markets.
