Xi’s next term needs a new China portfolio, say investors

Bright prospects: The headquarters of Chinese electric vehicle maker BYD in Shenzhen’s Guangdong province. High-tech manufacturing or emissions reduction projects are expected to prosper under President Xi Jinping’s next five years in office.— Reuters

SYDNEY: For global banks and fund managers drawing up their 2022 China investment strategies, one factor occupies their minds but eludes valuation models: President Xi Jinping’s next five years in office.

Having done away with term limits in 2018, China’s most powerful leader since Mao Zedong is steering the country back toward its socialist roots, upending financial markets.