(Bloomberg) -- Goldman Sachs Group Inc. has spotlighted 50 China stocks that could benefit from President Xi Jinping’s “common prosperity” efforts.
Companies connected to themes such as manufacturing upgrading, green energy, state-owned enterprise reforms and mass consumption can benefit from Xi’s ambitions, strategists including Kinger Lau said in note dated Monday.
The 50 firms, including communication-equipment maker Xiaomi Corp., LONGi Green Energy Technology Co., sportswear producer Li Ning Co., have a combined market capitalization of about $1 trillion, and could grow at a compound annual growth rate of 27% in the next two years, the strategists said.
“We believe ‘Common Prosperity’ is more than just about redistribution but an overarching development plan led by the Communist Party that could reshape China’s future growth trajectory in the years to come,” the Goldman strategists said.
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