Growth Dragons Weekly: Top Stocks Held By the China National Team
What happened in China this week:
Top Stocks Held By the China National Team
China Banks' Q1 2024 Results: Risk Lowered
Home Appliances Demand Rose in Q1 2024: Haier vs Midea vs Gree vs Hisense
Baijiu Sales Climbed in Q1 2024: Moutai vs Wuliangye
Tesla’s Partnership With Baidu
#1 Top Stocks Held By the China National Team
The 'China National Team' refers to China's sovereign funds, with Central Huijin serving as the backbone of the mission to rescue the stock market. The National Team appeared on the top 10 shareholders list for 295 stocks in the first quarter of 2024. It held more than 10 billion yuan in 27 stocks, including China Construction Bank, Bank of China, Agricultural Bank of China, and others, as listed below.
In Q1 2024, the National Team increased its holdings in 17 stocks across various sectors. In the real estate market, Hangzhou Binjiang Real Estate (SZSE: 002244) constructs housing, operates hotels, and provides property management services.
In the building materials industry, Beijing New Building Materials (SZSE: 000786) is the largest green building materials industrial group in China and the world's largest gypsum board manufacturer. It is also a Fortune Global 500 company.
In the retail industry, Jiajiayue (SSE: 603708) is a supermarket chain with over a thousand outlets across six provinces. Its business focuses on fresh foods, sourcing produce directly, processing it in centers, and distributing it to its outlets.
Wetown is a power distribution business specializing in manufacturing busway products, which connect wind, nuclear, and data center power. These products have been widely adopted in over 40 countries, including notable buildings such as Beijing's Olympic Bird's Nest.
Overall, the National Team's investments in Q1 2024 indicate an effort to boost the stock market. They purchase shares of leading businesses in each sector, aiming to support market leaders and technologically advanced companies. Moreover, they hold shares in most of China's banks, highlighting the importance of each as a financial pillar. The fact that these businesses are held by the National Team underscores their economic importance and will give investors a vote of confidence.