KEY POINTS
  • Goldman Sachs projects MSCI China and CSI 300 to rise 12% and 15%, respectively, underpinned by an estimated earnings growth of about 10% and "moderate" valuation gains.
  • Goldman Sachs prefers A-shares over H-shares for its lower sensitivity to geopolitical and liquidity factors.
  • In their 2024 China equity outlook, Goldman Sachs upgraded the food and beverage sector to overweight from market weight and technology hardware sector to overweight from underweight.

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Tiananmen, Gate of Heavenly Peace, Beijing

Goldman Sachs picked sectors in China's mass consumer market and technology, media and telecom as likely winners in the ongoing rebalancing in the world's second-largest economy in the year ahead as the policy environment turns more accommodative.

"Our view is very clear," Kinger Lau, Goldman Sachs chief China equity strategist, told CNBC's "Squawk Box Asia" on Tuesday.

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