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Speaker 1: Let's get to Bannie Lamb. Bannie is our guest for

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Speaker 1: the half hour. He is head of research at CEB

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Speaker 1: International Investment. He's on the line from Hong Kong. Bannie,

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Speaker 1: no surprise, she Chin Ping is in total control. How

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Speaker 1: much more risk does this create for those who are

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Speaker 1: interested in putting money to work in the mainland economy

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Speaker 1: and markets. I think, like for myself looking at this

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Speaker 1: as I think he like, uh, I think again to

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Speaker 1: take over the like the control of China, Okay, but

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Speaker 1: within the next five years, that would be helpful to

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Speaker 1: maintain the economics and political stabilities for developing the country.

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Speaker 1: Because I used to see like the compic and also

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Speaker 1: for us a few years to scoot out the economy,

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Speaker 1: that put a lot of burdens actually on the economic

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Speaker 1: growth of country. So um, if he like, can like,

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Speaker 1: I think, introduce some more like a very positive policy

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Speaker 1: economic policy. I think that is a very positive for

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Speaker 1: the development of China. Is there anything you're anticipating in

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Speaker 1: terms of policy, perhaps some tax reform um, perhaps something

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Speaker 1: to do around the property sector, or even a relaxation

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Speaker 1: of COVID zero. I think like, uh, there's a lots

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Speaker 1: of things, Like I think he can do after like

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Speaker 1: finishing the Congress, and uh, of course right now the

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Speaker 1: market needs like the more relaxations of the commic policy.

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Speaker 1: Of course there's a subjects to the health risk of

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Speaker 1: the like a facing China. Another thing is I think

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Speaker 1: on the structure reforms. There's a lot of things like

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Speaker 1: that he can do. Remember that, like the property market

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Speaker 1: actually help we fix someum now. And I think for

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Speaker 1: the property development we need not only like the healthy

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Speaker 1: development of the sector, and also we need by myself,

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Speaker 1: as I actually put on the market actually to make

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Speaker 1: the market were more active. They are employ lots of

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Speaker 1: people to increase the like a chop appointment. That is

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Speaker 1: very helpful. I think, uh, because a lots of policies

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Speaker 1: we're coming up for the property market. Other things I

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Speaker 1: think on the like reforms on the financial markets, I

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Speaker 1: think that it would be helpful. And the more openings

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Speaker 1: for like like outside money we're coming into China's to

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Speaker 1: invest in the lack of financial products, that would be

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Speaker 1: quite helpful for the development of the country. There is

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Speaker 1: a lot of ambition to create kind of types of

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Speaker 1: technologies that China really doesn't have at this point. And

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Speaker 1: we know what the US is doing to try to

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Speaker 1: squelge those opportunities very quickly. Is that the biggest risk

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Speaker 1: right now? Do you think for advancement US China tensions

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Speaker 1: very quickly? Benny Well, I feel like if you heard

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Speaker 1: a thought the news and lots of lack of tensions

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Speaker 1: on the like a high test stuff like you can

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Speaker 1: like the China cannot use the hates stuffs in the

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Speaker 1: US and the US cannot export the hot test stuff.

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Speaker 1: But remember that black chips like the semi contact test

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Speaker 1: pass back to China in the next couple of years.

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Speaker 1: I would say there will invest in lots of money

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Speaker 1: on it. And Benny, we've talked a little bit about

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Speaker 1: the changing political landscape and China or to about your

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Speaker 1: investing thesis. Now, I mean, I know you think trying

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Speaker 1: to stalks have found the floor? Is this a good

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Speaker 1: time to buy? And so what are you looking at

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Speaker 1: like for the moment because as maybe you know that

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Speaker 1: then ran right now is that we need some capaalists

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Speaker 1: actually posting market sent to me again one of the

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Speaker 1: sentiments I think the sentiment posting you need like the

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Speaker 1: COVID policies adjustments and also like on the other side,

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Speaker 1: maybe on the like a stronger like a MMB and

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Speaker 1: also like on the liquidity side, I think us rate

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Speaker 1: hike maybe like a slow down. So all those things

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Speaker 1: like you haven't seen a lot on the table for

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Speaker 1: the moment, so I think for the rest of the year,

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Speaker 1: I would say, like we have a more positive to

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Speaker 1: like looking at some of the sectors that would be

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Speaker 1: favorblet to like the rate hight, I think Hong Kong

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Speaker 1: Banks maybe one of them. And because the net interest

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Speaker 1: march as to go up, there would be posting their

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Speaker 1: brothers in their coming quarters. Second one I think I

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Speaker 1: would like very positive is like a China and of

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Speaker 1: intelecommunications network operators UM yet like at least affected by

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Speaker 1: the convict policies in China. And also you see the

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Speaker 1: earnings of the company is actually quite good, uh, and

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Speaker 1: also have a stable dividends, So I remember positive on

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Speaker 1: this sector as well. One of the big dark clouds

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Speaker 1: looming over the Chinese economy is obviously the property space.

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Speaker 1: Are you optimistic that the government can step in and

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Speaker 1: try to revive that in a way that's not excessive?

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Speaker 1: I think, uh, we still needs some time. I think

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Speaker 1: my my my stand actually is the way like a

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Speaker 1: government doing is want to use the market to fix

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Speaker 1: a problem on the pathles outside. But the once you

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Speaker 1: go in the middle, just right now, you need some

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Speaker 1: of the government policies, like for example on the liquity

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Speaker 1: side and also maybe on the critic side on both

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Speaker 1: that is that you have to support after the developers

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Speaker 1: and also the sal buyers. So for the moment, I

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Speaker 1: think you still need some time to adjust the market

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Speaker 1: and uh we I think the bucket the sectors, I

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Speaker 1: think we still need some more like half a year

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Speaker 1: from now. I were more positive on the sectors on

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Speaker 1: the next year and then once actually the problems that

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Speaker 1: you're fixing. I think the most of the developers have

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Speaker 1: their like a reknew their portfolio to we developed the

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Speaker 1: new property projects, that would be quite helpful, like to

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Speaker 1: post the wholet actors next year. I'm wondering if you're

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Speaker 1: seeing anything, you're like an h shares at the moment

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Speaker 1: it shares, I think like I have. I think you

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Speaker 1: can see Shanahigh and also some genetically to Frello Lapo

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Speaker 1: already and uh I think if you're positive to the

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Speaker 1: back um after the twenty Congress and then what they

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Speaker 1: say about like economic political stabilities, that would be helpful

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Speaker 1: for most of the sectors by developing. And as you

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Speaker 1: know that like innovations. Innovation is also one of the

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Speaker 1: very important pop for China's to maintain the growth. So

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Speaker 1: on the China side, I think on it there's a

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Speaker 1: lot of it orty stocks like you can like searching four.

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Speaker 1: I think that would be quite positive. That would also

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Speaker 1: like to help boast the whole market. Yeah, right now

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Speaker 1: I'm looking at the pre market for Hong Kong and

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Speaker 1: the hank Sand could be gaped down around two. Before

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Speaker 1: we let you go, Benny, I want to get your

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Speaker 1: take on what's happening with with Japan and particularly the

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Speaker 1: intervention of the end. Is this a fool's errand here

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Speaker 1: I mean it looks as though the end wants to

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Speaker 1: trade on the weak side of one fifty. I think,

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Speaker 1: like I don't believe like intervention actually factive. Yeah, And

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Speaker 1: for the first second is from the Japan's I actually

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Speaker 1: is a structure problem because the wanted two possitively between

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Speaker 1: bu j and also factories serve at the two extremes.

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Speaker 1: So every people were like a ticket prop actually like

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Speaker 1: a shotting again actually buying US dollars. Okay, So in

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Speaker 1: de side, every time they have a like a intervening

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Speaker 1: markets to support again, I think the trader is do

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Speaker 1: the same thing like a shotting again after doing that.

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Speaker 1: So you see every time they're going in the market

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Speaker 1: like uh, within one day actually go back. So that

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Speaker 1: is not like effective for everything. So I'm not like

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Speaker 1: pre negative to like again performance alright, alright, Benny Lamb

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Speaker 1: ahead of research and see be International Investment