The omicron variant has dampened the rapid expansion of the Chinese economy due to depressed demand and consumption. Goldman Sachs cut its 2022 forecast for China’s economic growth from 4.8% to 4.3%. However, several experts still believe the Chinese market to be a potential outperformer for fiscal 2022. Invesco’s Kristina Hooper has included China as one of the 2022′s top places to put money to work. The winter Olympics is expected to revive consumption levels and boost tourism, as people from all over the world are expected to visit the country during this period.
So, it could be wise to bet on fundamentally sound Chinese stocks, FinVolution Group (FINV), LexinFintech Holdings Ltd. (LX), and Fuwei Films (Holdings) Co., Ltd. (FFHL), which are trading below their 52-week highs now, ahead of the winter Olympics.
