Aberdeen New Thai Investment Trust PLC

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Stability is the number one priority for the Chinese government, as indicated in the recent China Economic Working Conference. Policymakers in Beijing are aware of the risks that the economy is facing and have pledged to provide the necessary support to ensure economic stability.

Meanwhile, the regulatory measures imposed by the government came as a surprise. But we believe that these changes should be seen in the context of a fast-changing technology landscape. Regulators are trying to keep pace with innovation and while a full reversal of the recent regulatory tightening towards the property and internet sectors is unlikely, we may see incremental loosening of the regulations, which may inject a dose of positivity into the market. This also means that the worst period from a policy standpoint may be behind us. However, it is worth noting that the policy tightening was a proactive rather than reactive measure, meaning authorities still retain control of the situation. On that basis, we remain cautiously optimistic.