“A clearer and more defined regulatory framework around these internet businesses is a definite positive,” Jiang said in an interview in Hong Kong this week. “The worst is over,” she said, adding that the firm has held on to most of its China tech holdings during a yearlong rout as the sector provides “critical value” to customers.
JPMorgan Asset Management is doubling down on China tech stocks after enduring a tumultuous selloff, betting that an easing of regulatory crackdowns and attractive valuations will pay off well.
Rebecca Jiang, who co-manages three China equity funds with almost US$20 billion of assets, said she is becoming more optimistic on the sector as regulatory hurdles are being cleared, while macro policies offer support. The flagship China fund has snapped up shares of Alibaba Group Holding and JD.com this year, according to filings as of end-May.
