CSI 300
CSI · CNY
The world's most hated cheap market.
China is the second-largest economy on Earth, with two domestic exchanges and many champions also listed in Hong Kong. After years of regulatory crackdowns and property pain, valuations sit at multi-decade lows — net-cash balance sheets, single-digit P/Es, and dominant platforms.
Sector breakdown
What drives the index
Financials
22%Big Four state banks at ~5x earnings.
Consumer
18%Kweichow Moutai, BYD, JD, Meituan.
Technology
18%Tencent, Alibaba, PDD, NetEase.
Industrials & EV
17%CATL (batteries), BYD, CRRC.
Energy
Oil, gas and refining businesses.
Materials
Metals, chemicals and construction materials.
Top companies
The franchises that matter
Tencent
WeChat, gaming, fintech — the everything app.
Alibaba
Taobao, Tmall, Aliyun cloud.
Kweichow Moutai
China's iconic baijiu maker — luxury spirits.
CATL
World's largest EV battery manufacturer.
BYD
World's largest EV maker by volume.
PetroChina
Large state-backed oil and gas producer.
Latest News
Kweichow Moutai is at times worth more than all U.S. spirits companies combined.
CATL alone supplies over a third of all EV batteries on Earth.
Tencent owns stakes in hundreds of global gaming studios, including Epic and Riot.
- Deep value
- Net-cash balance sheets
- Dominant local platforms
- Regulatory unpredictability
- Geopolitics
- Property overhang
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