Iitshiphusi eziBlue zaseTshayina kwimarike yemasheya ngo-2024

Namhlanje, i-China lelinye lawona mazwe anoqoqosho olukhulu kwaye akhula ngokukhawuleza kwihlabathi. Zininzi iinkampani ezinkulu eTshayina, kwaye ezi ayizozigebenga zobuchwepheshe obuphezulu kuphela. I-capitalisation epheleleyo yeenkampani ze-170 ezinkulu zaseTshayina namhlanje zigqithise i-$ 7.5 yetriliyoni. Ngoko ke, ukufunyanwa kwezabelo zabo ngokungathandabuzekiyo kunomdla
wokwahlukana kwepotfoliyo yotyalo-mali .

Yabelana ngesakhiwo semarike yemasheya yaseTshayina

Izabelo zaseTshayina, njengazo zonke ezinye, i-stock market yahlulahlulwe ibe ngama-echelons amathathu.

I-echelon yokuqala

Inqanaba lokuqala libandakanya izitokhwe ezineqondo eliphezulu lokungabi namali. Iinkampani ezikhuphe izabelo zizinzile kakhulu, azinaluvelwano kutshintsho oluncinci kwimarike. Banomlinganiselo ophezulu kakhulu, malunga ne-90%, i-free-float ratio kunye nokusabalalisa okuncinci. Ezi ziitshiphusi zaseTshayina eziblue.

I-Free-float – ipesenti yezabelo ezithengiswa ngokukhululekileyo kwimarike kwinani lilonke lezabelo zenkampani.
Ukusasazwa luphawu lomahluko phakathi kwexabiso lokuthenga nokuthengisa izabelo ngexesha elinye.

Ngokwe-Hang Seng Index (HSI) (Hong Kong Stock Exchange Index). Uluhlu lweetshiphusi eziluhlaza eTshayina lubandakanya izigebenga ezifana neGeely Automobile, iGalaxy Entertainment Group, iLenovo kunye nabanye.

Iitshiphusi zaseTshayina eziluhlaza

Nangona kunjalo, eyona nto iphambili ye-chip index yaseTshayina yi-SSE 50 Index. Iquka iinkampani ze-50 ezinkulu kunazo zonke e-China, ezinezinga eliphezulu le-capitalisation, kwaye izabelo zabo zibonisa umsebenzi ongcono kakhulu ngokubhekiselele ekuthembekeni kunye nokuhlawula imali. Olu luhlu lubandakanya iibhanki, iinkampani zoshishino kunye norhwebo ezaziwayo-kakuhle kwimarike yehlabathi, kuquka, ezifana – Bank of China, Orient Securities; IBhanki yaseBeijing; I-PetroChina (iqumrhu lokuqala lehlabathi ukufikelela kwinqanaba le-capitalisation ye-1 yetriliyoni); China National Nuclear Power kunye nabanye.

I-echelon yesibini

Ezi zizabelo zeenkampani ezinkulu ezithe, nangona zingaphantsi kwe-echelon yokuqala, kodwa iqondo eliphezulu lokungabi namali. Izitokhwe zenqanaba lesibini ziyi-avareji ngokubhekiselele kwi-free-float ratio, umthamo wokuthengisa, umngcipheko kunye nembuyekezo. Ukusabalala kwezitokhwe ezinjalo kubanzi kakhulu kunee-chips eziluhlaza.

inqanaba lesithathu

Izabelo zeenkampani ezikwinqanaba lesithathu zinezinga eliphantsi kakhulu lokuhlawula amatyala, zinexabiso eliphantsi kunye nomlinganiselo wokuhamba simahla. Umthamo wokurhweba kwezi zabelo uncinci. Bathwala imingcipheko ephezulu kunye nokusasazeka okubanzi kakhulu. Ii-echelons ezintathu zesitokhwe saseTshayina:

Uluhlu lwe-blue chip stocks kwimarike yamasheya yaseTshayina

NgoSeptemba ka-2021, i-China yapapasha uluhlu lweenkampani ezinkulu ezingama-500 kurhulumente. Ngokoluhlu olupapashwe ngokudibeneyo yi-China Enterprise Directors Association kunye ne-China Enterprise Confederation. Ingeniso edibeneyo yala mashishini ifikelele kwi-89.83 yetriliyoni yeJPY (i-13.9 yetriliyoni zeedola). kwaye ibonise ukunyuka kwengeniso ye-4.43%, ngokulandelelanayo, xa ithelekiswa nexesha elifanayo lonyaka odlulileyo. Inzuzo efunyenwe ngala mashishini ngo-2020 ifikelele kwirekhodi ye-4.07 yetriliyoni yeJPY (ukwanda kwe-4.59%). Inqanaba lengeniso yokusebenza efunekayo ukuze kufakwe kuluhlu nayo yavuka, yafikelela kwi-39.24 yezigidigidi ze-JPY, eyi-3.28 yezigidigidi ze-JPY ngaphezu kwexesha elidlulileyo. Iinkampani ingeniso yazo ikhule ngaphezu kwe-JPY 100 yeebhiliyoni ezingaphezulu kwe-200 (enyanisweni ziinkampani ezingama-222) kwaye ezisi-8 kuzo zigqithise kwi-JPY 1 yetriliyoni yomda.
Ngaphandle kokungqubana okwenzekayo phakathi kwe-US kunye neTshayina, ukwakhiwa kwemveliso yale yokugqibela kuphuculwe kakhulu. Yintoni eyenza ukuba izibambiso zeenkampani zaseTshayina zikhangeleke kakhulu kwimarike yemasheya. Uluhlu lweenkampani ezinkulu (ii-chips zaseTshayina eziluhlaza okwesibhakabhaka) zibandakanya iinkampani eziphezulu zobuchwepheshe ezisebenza kwintsimi yokuvelisa, unxibelelwano lonxibelelwano. Uluhlu lweenkampani ezisi-8 ezinkulu zaseTshayina (iitshiphusi eziluhlaza) ngokweFOTUNE GLOBAL 500:

Iinkampani ezininzi zaseTshayina eziluhlaza okwesibhakabhaka

Ezi nkampani zezona zithembisayo kutyalo-mali, kunye nokusebenza ngezabelo zabo kwiimarike zemasheya. Banenqanaba eliphezulu lemali eyinkunzi, kwaye bazisa umvuzo othe gqolo ophezulu. Izabelo zabo zinomtsalane kutyalo-mali lwexesha elide. Ngoko umzekelo:
I-State Grid yinkampani karhulumente waseTshayina, ishishini elikhulu kwihlabathi elakha izixhobo zamandla enyukliya kumazwe amaninzi ehlabathi kwaye lisasaze umbane kuyo yonke iPRC. Ukongeza, ngokusebenzisa ii-subsidiaries zayo, ityalomali ngokusebenzayo ekuphuhliseni iigridi zamandla kunye nokwakhiwa kwezibonelelo ezitsha kwamanye amazwe (eBrazil, kwiiPhilippines, njl.)

Ngokweziphumo zefandesi, imeko yemali yenkampani ilandelayo.

IPetroleum yeSizwe yaseTshayina-eyona nkampani inkulu ye-oyile kunye negesi e-China, ephantsi kukarhulumente ngokupheleleyo kwaye ikwindawo ebambekayo kwimarike yasekhaya. Ibandakanya inani leenkampani (PetroChina, Kunlun Energy, njl.). Ukusukela ngo-2019, ii-asethi zayo zizonke zifikelele kwi-2.732 yetriliyoni ye-JPY, kwaye inani labasebenzi lifikelela phantse kuma-500 amawaka abantu. Ixabiso lesitokhwe se-China National Petroleum namhlanje yile:
Kwaye i-dynamics kunye noqikelelo lwayo:
Ezinye iitshiphusi zaseTshayina eziblue, eziboniswe kwitheyibhile, zibonisa malunga namandla afanayo.

Uzithenga njani iitshiphusi eziluhlaza zaseTshayina

Uzinzo kunye nenzuzo yezibambiso ze-blue-chip zase-China zibenza babe nomtsalane wotyalo-mali ekujoliswe kulo. Ungawathenga la maphepha.

kwiintengiso zaseRashiya

Ezinye izikhundla zokhuseleko lwaseTshayina zifikeleleka kakhulu kwimarike yemasheya yaseRussia. Ezi ayizozabelo kuphela, kodwa
neerisithi zedipozithi (ADRs). Bajikeleza ngokukhululekileyo kwiSt. Petersburg Stock Exchange kwaye bacatshulwe ngeedola zaseMelika. Kwi-stock exchange yaseSt. Petersburg ungathenga:

• Alibaba Group Holding Limited (BABA);
• I-Aluminium Corporation yaseChina Li (ACH);
• I-Baidu Inc. (BIDU);
• China Eastern Airlines Corporati (CEA);
• China Life Insurance Company Lim. (LFC);
• Inkampani yaseChina yeeNqwelomoya eziMazantsi (iZNH);
• Molo Group Inc. (MOMO);
• Inkampani Huaneng Power International Inc. (HNP);
• I-Huazhu Group Limited (HTHT);
• com, Inc. (JD);
• JOYY INC. (YY);
• Inkampani yeNetEase Inc. (NTES);
• PetroChina Company Limited (PTR);
• Sinopec Shanghai Petrochemical (SHI);
• com Limited (SOHU);
• IQela lezeMfundo le-TAL (TAL);
• Vipshop Holdings Limited (VIPS);
• I-Weibo Corporation (WB);
• China Mobile (Hong Kong) Ltd. (CHL);
• China Telecom Corporation Limited (CHA)

Kwaye abanye, namhlanje malunga nezikhundla ze-30. Kutshintshiselwano lwaseMoscow, ikowuti iyenziwa kwiiruble kwaye iboniswe kwezi zilandelayo zikhetho eziphambili:

• Alibaba Group Holding Limited (BABA-RM)
• I-Baidu Inc. (BIDU-RM)
• PetroChina Company Limited (PTR-RM)
• com, Inc. (JD-RM)
• Li Auto Inc. (LI-RM)
• INC. (NIO-RM)
• IQela lezeMfundo le-TAL (TAL-RM)
• Vipshop Holdings Limited (VIPS-RM)

Nangona kunjalo, inani leenketho liyaqhubeka likhula ngokuthe ngcembe. Kwabaninzi abarhwebi abaqalayo kwimarike yemasheya, oku kunokwanela. Akunzima ukuqala ukusebenza nabo, kwanele ukuba uvule
i-akhawunti yotyalo-mali lomntu (i-akhawunti yotshintshiselwano). Ngenxa yokuba izabelo zidweliswe kwi-Russian Stock Exchange, zixhomekeke kulo lonke uluhlu lweenzuzo zerhafu ezisebenza ekufumaneni izabelo zeenkampani zasekhaya.

Ngabarhwebi bamazwe angaphandle

Abatyali-mali abafuna ukusebenza ngeentlobo ezibanzi zeetshiphusi eziluhlaza zaseTshayina kunokuba banokunikezela ngemarike yasekhaya banokuvula iiakhawunti kunye nabathengisi baphesheya. Elona nani likhulu lezabelo zesiTshayina “ii-chips eziluhlaza okwesibhakabhaka” ngo-2021 zathengiswa kutshintshiselwano lwase-US (iNew York Stock Exchange, NASDAQ, kunye nabanye). Ukuze uqalise ukurhweba ngezabelo zaseTshayina kolu tshintshiselwano, kufuneka uqhagamshelane nabarhwebi abafanelekileyo, abanje:

• UCharles Schwab,
• E* Urhwebo,
• Interactive Brokers,
• TD Ameritrade, kunye nabanye.

Ngotyalo-mali oluthe ngqo eTshayina

Utyalo-mali oluthe ngqo e-China luya kuba lolona lunenzuzo kwaye lufanelekile, oku kuya kukuvumela ukuba usebenzise i-commission encinci, kodwa imali eya kutyalwa imali iya kuba nkulu kakhulu, kwaye oku akunakwenzeka ukuba kufanelekile kubatyali-mali abaqalayo.

Ngotyalo-mali oludityanelweyo kwizibambiso zaseTshayina

Enye indlela yokufumana ukuvezwa kwizitokhwe zaseTshayina kukufumana i-ΕTF. Ngokutyala imali kwi-ΕTF, umtyalo-mali akathengi izabelo zomntu ngamnye, kodwa ngokukhawuleza uthenga ibhloko yezabelo kwiinkampani ezahlukeneyo zaseTshayina. Ke, utyalo-mali lwemali hayi kwinkampani ethile, kodwa kuyo yonke imarike yemasheya yaseTshayina. ΕTF inokuthengwa kwi-Moscow Exchange. Ezi ziquka, i-AKCH, umqhubi we-OOO MC Alfa-Capital kunye neFXCN, umqhubi weFinEx Funds plc.
Ikhomishini yengxowa-mali yi-0.9% ngonyaka, i-asethi ifakwe kwi-yen, nangona kunjalo, ukurhweba kuqhutyelwa kwi-dollar yase-US kunye ne-ruble, i-Solactive GBS China ex A-Shares Large & Mid Cap USD indices zilandelwa. Ezona nxalenye ziphambili ziquka izibambiso zeTencent Holdings Ltd., iAlibaba Group Holding Ltd. kunye ne-Meituan Class B, babambe ngaphezu kwe-1/3 yepotfoliyo yotyalo-mali, equka izibambiso ze-230. I-Alfa Capital ye-AKCH yotshintshiselwano-ingxowa-mali yokuthengisa ilandelela i-Xtrackers Harvest – i-60% kunye ne-KraneShares China – i-40%. Uvele athenge i-ASHR kunye ne-KWEB iimali ezithengiswayo, kodwa umrhumo wakhe ngu-1.61%. Le yintlawulo, ngaphandle kweentlawulo ze-ETF, i-0.65% ye-ASHR kunye ne-0.76% ye-KWEB. Urhwebo lwenziwa kwii-ruble.

Izibonelelo kunye nomngcipheko wotyalo-mali kwiitshiphusi eziluhlaza kwimarike yaseTshayina

Kumashumi eminyaka akutshanje, i-China iye yaphuhliswa ngamandla amangalisayo, kwaye namhlanje ithathwa ngokufanelekileyo njengesibini (emva kwe-United States) uqoqosho lwehlabathi. Kodwa ngelo xesha, akukho mvumelwano phakathi kwabatyalo-mali malunga nokuzinza koqoqosho lwayo. Oku kubangelwa yinkqubo yezopolitiko ekhoyo kweli lizwe. Ukongeza, iUnited States iyakuchasa ukwanda okusebenzayo kwangaphandle kweenkampani zaseTshayina. Ke ngoko, kuqikelelo lwe-2022, uluvo lokuba ukukhula koqoqosho lwaseTshayina kuya kucotha ngokukhawuleza ngakumbi nangakumbi. Oku akunakuchaphazela ixabiso kunye nenzuzo yeetshiphusi eziluhlaza zaseTshayina. Kwaye ngokwemvelo kwandisa ingozi yotyalo-mali lwexesha elide.

Kufuneka utyale malini kwiiChips zaseTshayina eziBlue?

Kwimeko enjalo engaqondakaliyo, xa kuthengwa izabelo zeenkampani zaseTshayina, ukumodareyitha kufuneka kubonwe. Akukho siqinisekiso sokuba ingomso eliqaqambileyo lilindele zonke iinkampani zeli lizwe. Kodwa umntu akufanele angayihoyi into yokuba uqoqosho lwaseTshayina lude luphelelwe amandla kwaye lunazo zonke izinto ezifunekayo zokukhula okukhawulezayo okuqhubekayo. Ke, esona sisombululo siya kuba kukutyalomali kwiitshiphusi eziluhlaza zaseTshayina 6-12% yepotfoliyo yakho yotyalo-mali. Oku kukuvumela ukuba unciphise umngcipheko kwaye kwangaxeshanye ufumane imali kutyalo-mali.

Izibonelelo zotyalo-mali kwiitshiphusi zaseTshayina eziluhlaza

Izibonelelo ezingathandabuzekiyo zotyalo-mali kwizibambiso zaseTshayina zibandakanya:

• izinga eliphezulu lokukhula kwe-GDP (ngokomndilili ngaphezu kwe-8% ngonyaka) iminyaka emininzi;
• isabelo esiphezulu semveliso yobugcisa obuphezulu kuqoqosho lwelizwe;
• ukukhuphisana okuphezulu kwempahla yaseTshayina kwimarike yangaphandle;
• ixabiso eliphantsi lomsebenzi kunye nobukho benani elikhulu labantu abanakho;
• ulawulo oluluqilima ngabasemagunyeni, nto leyo inciphisa kakhulu amathuba okwenziwa nokuqhathwa kwabatyali-zimali.

Iingxaki zotyalo-mali

Kodwa kunye neengenelo, utyalo-mali e-China lukwanalo nenani lokungalungi:

• ukungaqiniseki okudalwa yinkqubo yezopolitiko;
• ukubakho kwe “imfazwe yorhwebo” evela e-US kunye ne-EU;
• umngcipheko wokuwisa izohlwayo;
• ukungachaneki kwedatha enikiweyo.

Ngaba kunengqiqo ukuthenga isiTshayina “iitshiphusi eziluhlaza”

Ngokungathandabuzekiyo, kuyacetyiswa ukuba uthenge izabelo zeenkampani zaseTshayina. Esinye isabelo sesitokhwe, iinkampani zaseTshayina ezinomdla kakhulu, kufuneka zibe khona kwiipotfoliyo zotyalo-mali njenge-asethi yokukhula okunokwenzeka. Kodwa ukusebenzisa isitokhwe se-blue-chip yaseTshayina ukwenza ingeniso ye-passive ayifanelekanga.