[video] Quick Take: Chinese Share Turn-Around Is for Real
NEW YORK (TheStreet) -- Are Chinese stocks finally turning the corner? Helping TheStreet's Gregg Greenberg solve the problem is Raymond Chan, CIO of Equity Asia Pacific for AllianzGI.
While U.S. investors tend to second-guess the legitimacy and accuracy of Chinese data, Chan said he thinks the recent numbers can be trusted.
He added that the government has been trying to clean up those numbers, making them more accurate and dependable. Most recently, a stronger-than-expected exports number was released, showing that the country may be doing better than previously thought.
Also a large concern for many investors was a hard landing in China, which is apparently off the table.Chan went on to say that he now expects a soft landing, with growth between 7% and 7.5%. Although an improving Chinese economy usually means higher commodities prices, Chan said he doesn't think so this time. For the economy to be successful, it needs to be consumer driven. When asked where the best places to look were, he said investors should favor Internet-related stocks, due to their strong earnings-per-share growth. Also, investors should look at natural gas and other green fuel sources, since the country is looking to stem its dependency on coal. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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