Shares in Chinese clean energy companies have rallied this month as investors bet the sector will benefit from continued government support and avoid the crackdown that has engulfed the technology sector.
Beijing’s moves to tighten regulatory scrutiny over key strategic sectors will benefit advanced manufacturing, localisation of technology and renewable energy — sectors that align with the government’s long term objectives, according to Morgan Stanley.
China’s CSI New Energy index has soared 55 per cent over the past three months, while Hong Kong’s Hang Seng Tech index — which contains China’s largest tech companies — has fallen 12 per cent during the same period, both in local currency terms.
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