In 2020-21, a wave of unexpected regulations by the Chinese government targeting several sectors, including real estate, private education, and fintech, combined with rising international tensions surrounding the COVID pandemic, led Western financial markets to label China as “uninvestable.” Less than five years later, that consensus has already collapsed. In 2025, Chinese equities rank among the world’s best performing markets. More specifically, China’s power companies are emerging as global leaders underpinning AI investment, with CATL’s batteries becoming the standard even for American data centers. Finally, just weeks ago, China issued government bonds in both US dollars and euros, and demand from Western investors exceeded supply by a factor of 25 to 30, highlighting the growing willingness of Western investors to increase their exposure to Chinese assets.
