Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

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Thematic (Sector/Industry)

<p>The influence of demography is often imperceptible quarter to quarter or year to year. But over the long term it can prove decisive. For much of China's past 30 years, demography aided extraordinary growth and supported an increasingly investment-heavy economic model. In the next 10 years, demographic change will drag on growth rather than drive it, and radically reshape China's economy. The seemingly limitless supply of "surplus" rural labor, which fueled rapid urbanization and productivity gains, will begin to dry up. The working-age population, after expanding by over 400 million in the past 30 years, will contract, just as the senior population surges. China's unusually high support ratio—the number of working-age adults for each child and senior—will fall, draining the pool of savings that funds outsize investment outlays, but stabilizing consumption growth as the overall economy slows. Recent efforts to address looming demographic challenges by boosting fertility will prove too little, too late.</p><p><em>Lead authors: Daniel Rohr and Chok Wai Lee</em></p>

The influence of demography is often imperceptible quarter to quarter or year to year. But over the long term it can prove decisive. For much of China's past 30 years, demography aided extraordinary growth and supported an increasingly investment-heavy economic model. In the next 10 years, demographic change will drag on growth rather than drive it, and radically reshape China's economy. The seemingly limitless supply of "surplus" rural labor, which fueled rapid urbanization and productivity gains, will begin to dry up. The working-age population, after expanding by over 400 million in the past 30 years, will contract, just as the senior population surges. China's unusually high support ratio—the number of working-age adults for each child and senior—will fall, draining the pool of savings that funds outsize investment outlays, but stabilizing consumption growth as the overall economy slows. Recent efforts to address looming demographic challenges by boosting fertility will prove too little, too late.Lead authors: Daniel Rohr and Chok Wai Lee

The Next 10 Years: Demographic Trend Reversals Will Reduce Growth and Reshape the Economy

Public Relations and Social Media Manager, Dechert LLP

Peggy Heffner

Public Relations and Social Media Manager

Dechert is a global specialist law firm

Dechert LLP

Dechert is a global specialist law firm.
Focused on sectors with the greatest complexities, legal intricacies and highest regulatory demands, we excel in delivering practical commercial judgment and deep legal expertise for high-stakes matters.

Our work is widely recognized. We have 20 standout practices noted by Chambers Global, including global-wide rankings for arbitration, corporate investigations, anti-corruption, investment funds and life sciences. Named Antitrust Team of the Year, Chambers USA commends our “accomplished group” as “routinely sought after to handle some of the most significant litigation and transactions in the antitrust world.” 

In an increasingly challenging environment, clients look to us to serve them in ways that are faster, sharper and leaner without compromising excellence. We developed a first-of-its kind legal project management department, which uses technology, people and processes to drive efficiency and deliver value for our clients.

We are innovators. Dechert ranked #7 in the Financial Times’ Top North American Innovative Law Firms. Financial Times also recognizes us among the Top European Innovative Law Firms and highly commends World Compass, our marketing compliance service, which offers investment firms advice in more than 100 jurisdictions.

<p>China has announced the launch of a new initiative that is likely to liberalize the process for foreign investors to invest in the China bond market. <strong>As the third largest bond market in the world, this could be a significant boost to international investors wanting access to the Mainland China debt market.</strong></p><div class="content-highlight"><p>On 15 March 2017, following the fifth annual meeting of the 12th National People' Congress, Premier Li Keqiang announced the intention to launch a bond trading link between China and Hong Kong…</p></div>

China has announced the launch of a new initiative that is likely to liberalize the process for foreign investors to invest in the China bond market. As the third largest bond market in the world, this could be a significant boost to international investors wanting access to the Mainland China debt market.On 15 March 2017, following the fifth annual meeting of the 12th National People' Congress, Premier Li Keqiang announced the intention to launch a bond trading link between China and Hong Kong…

China-Hong Kong Bond Connect on Its Way. A Legal Update from Dechert's Financial Services Group

Founder, Supreme Peoples Court Monitor

Susan Finder

Founder

Supreme Peoples Court Monitor

<p>At the latest National People's Congress meeting, the first part of China's Civil Code was promulgated, the Civil Code Principles, as highlighted in <a href="https://www.smartkarma.com/insights/npc-meetings-almost-nothing-happened" target="_blank">this</a> post.  The Civil Law Principles will go into effect on October 1 of this year, and China's principles of legal interpretation mean that the new legal rules will supersede the old ones.  This short article will look at one of the important areas in which the law will change--limitation periods in civil cases.  </p><p>The terminology is different in…</p>

At the latest National People's Congress meeting, the first part of China's Civil Code was promulgated, the Civil Code Principles, as highlighted in this post.  The Civil Law Principles will go into effect on October 1 of this year, and China's principles of legal interpretation mean that the new legal rules will supersede the old ones.  This short article will look at one of the important areas in which the law will change--limitation periods in civil cases.  The terminology is different in…

What China's New Civil Code Principles Mean for Business

CHINA - Healthcare, Steel, Autos, Education, Research From Beijing

Scott Laprise/ 乐天虎

CHINA - Healthcare, Steel, Autos, Education

<h2>Preparations set for upcoming fall meetings</h2><ul>
<li>The next NPC meeting in the fall is the one to watch – big changes will happen.</li>
<li>This meeting almost nothing substantial happened.</li>
<li>The proposed new “Bond Connect” in HK was the biggest surprise of the conference left to the very end.</li>
<li>More drafts and discussions on new civil code of law.</li>
<li>Defence budget was not broken out, first time in sometime.</li>
<li>Looking at new role of super-financial regulator to prevent a future crisis.</li>
<li>Overall a positive (though slow moving)…</li>
</ul>

Preparations set for upcoming fall meetings
The next NPC meeting in the fall is the one to watch – big changes will happen.
This meeting almost nothing substantial happened.
The proposed new “Bond Connect” in HK was the biggest surprise of the conference left to the very end.
More drafts and discussions on new civil code of law.
Defence budget was not broken out, first time in sometime.
Looking at new role of super-financial regulator to prevent a future crisis.
Overall a positive (though slow moving)…


Asia Economist and CEO, Centennial Asia Advisors

Manu Bhaskaran

Asia Economist and CEO

Centennial Asia Advisors

At Centennial Asia Advisors, we tell it like it is. We have no vested interests, no need for a China wall, and no reason to skew our outlook any other way. With over 30 years experience covering Asia’s political economy, you can be sure our conclusions and analyses are based on the unadulterated facts. Through years of fine-tuning our research methodologies, we deliver a quality of macroeconomic analysis few other houses can match.

Centennial Asia Advisors is an independent research and advisory firm that works with governments, multilateral institutions, financial firms and leading MNCs.

Economic Policy and Strategic Advisors

<ul><li>Cyclical economic growth has been on an even keel, bolstered by concerted fiscal efforts and monetary easing. This could coincide with a global upswing to produce an upside growth surprise in an economy that has been stabilising well.</li><li>In the medium term, financial risks could come to the fore, especially as investment levels continue to decline while credit growth remains unabated. The reluctance to decouple from an ambitious growth target could exacerbate existing imbalances in asset markets. Reforms are only likely to occur when China’s back is against the wall.</li><li>In the long run, the closed nature of China’s economy means that innovation and creativity are likely stifled. Furthermore, capital controls discourage foreign firms from entering the Chinese market and prevent potentially beneficial technology transfers.</li></ul>

Cyclical economic growth has been on an even keel, bolstered by concerted fiscal efforts and monetary easing. This could coincide with a global upswing to produce an upside growth surprise in an economy that has been stabilising well.In the medium term, financial risks could come to the fore, especially as investment levels continue to decline while credit growth remains unabated. The reluctance to decouple from an ambitious growth target could exacerbate existing imbalances in asset markets. Reforms are only likely to occur when China’s back is against the wall.In the long run, the closed nature of China’s economy means that innovation and creativity are likely stifled. Furthermore, capital controls discourage foreign firms from entering the Chinese market and prevent potentially beneficial technology transfers.

China Research Trip: Short-Term Stabilisation Contrasted Against Longer-Term Worries

China

iShares MSCI China ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to track the performance of the MSCI China Index. The Index is a free float adjusted market cap weighted index designed to measure the performance of equity securities in the top 85% in market cap of Chinese equity markets, as represented by the A-Shares, H-Shares, B-Shares, Red Chips, & P-Chips.

iShares MSCI China ETF (MCHI US)

The Next 10 Years: Demographic Trend Reversals Will Reduce Growth and Reshape the Economy

The influence of demography is often imperceptible quarter to quarter or year to year. But over the long term it can prove decisive. For much of...

Morningstar, Inc.

China-Hong Kong Bond Connect on Its Way. A Legal Update from Dechert's Financial Services Group

China has announced the launch of a new initiative that is likely to liberalize the process for foreign investors to invest in the China bond...

Dechert LLP

What China's New Civil Code Principles Mean for Business

At the latest National People's Congress meeting, the first part of China's Civil Code was promulgated, the Civil Code Principles, as highlighted...

Susan Finder

NPC Meetings – Almost Nothing Happened

Preparations set for upcoming fall meetings The next NPC meeting in the fall is the one to watch – big changes will happen. This meeting almost...

Scott Laprise/ 乐天虎

China Research Trip: Short-Term Stabilisation Contrasted Against Longer-Term Worries

Cyclical economic growth has been on an even keel, bolstered by concerted fiscal efforts and monetary easing. This could coincide with a global...

Manu Bhaskaran