Despite a difficult post-Covid period for Chinese stocks, they still dominate the broader emerging markets space. China accounts for 26.7% of the MSCI Emerging Markets index. For context this is still significantly ahead of India on 18.1%.

This article will briefly examine the largest companies in the MSCI China index to provide a snapshot of the names which really drive the Chinese stock market and emerging markets more broadly. Some of these names have listings outside of China.

Tencent

Tencent is an investment holding company that provides internet value-added services and online advertising across mainland China, Hong Kong and elsewhere internationally. Its platforms include QQ and WeChat.

Alibaba

Alibaba is one of the world’s largest e-commerce companies. It has been expanding into the media industry and has a big footprint in fintech through its Ant Group arm.

PDD Holdings

PDD is the owner of the rapidly growing international internet shopping platform Temu alongside its domestic counterpart Pinduoduo.  

Meituan

The company is a leader in food delivery and provides services ranging from bike-sharing to ticket-booking and maps. There is an emphasis on offering deals and vouchers linked to local Chinese merchants.

China Construction Bank

One of the ‘big four’ banks in China, China Construction Bank was established in 1954. The company offers commercial and personal banking services and has a growing insurance arm.

This outlook is part of a series being sponsored by Templeton Emerging Markets Investment Trust. For more information on the trust, visit www.temit.co.uk

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