To The Moon

[For Hong Kong Investor Only] The recent approval by the Standing Committee of the National People's Congress for 10 trillion yuan of local government debt swap aligns closely with market expectations. However, the meeting did not announce additional policies related to real estate and consumption that the market had anticipated. We believe that, based on the Chinese government's policy decision process, further policies concerning real estate, bank, and consumption are likely to be revealed at the Central Economic Work Conference and the Politburo Standing Committee meeting in December, as well as next year's Two Sessions.

As the U.S. elections conclude, we contend that China's stimulus policies will continue to be a decisive factor for the performance of the Chinese market. The overall direction of these stimulus policies is now fairly clear, but the pace, intensity, and specific focus of these measures may be influenced by U.S. policy.

Key Discussion Points:

00:22 - The Standing Committee of the National People's Congress approved the 10 trillion yuan local government debt swap on November 8. Can you provide an analysis of the specific details and implications of this policy? How does it compare to market expectations?

02:02 - What is our outlook on subsequent policy directions, particularly regarding real estate, bank, and consumption sectors? What important upcoming events should we pay attention to?

02:58 - In the context of Trump's re-election and the rollout of China's stimulus policies, what is our perspective on the future of the Chinese market, and which sectors do we find most promising?

We expect that boosting domestic demand and enhancing self-reliance in science and technology will be the focus of upcoming policies. With the gradual roll-out of China stimulus policies and the U.S. political changes, investors should carefully access the impact of these policies and explore the potential opportunities across various sectors of the China market.

Learn more about Global X's China-themed products and risk disclosure:

Global X China Consumer Brand ETF (2806) $GX中国消费(02806)$

https://www.globalxetfs.com.hk/funds/china-consumer-brand-etf/

Global X China Semiconductor ETF (3191) $GX中国半导(03191)$

https://www.globalxetfs.com.hk/funds/global-x-china-semiconductor-etf/

Global X China Little Giant ETF (2815) $GX中国小巨人(02815)$

https://www.globalxetfs.com.hk/funds/china-little-giant-etf/

Global X China Cloud Computing ETF (2826) $GX中国云算(02826)$

https://www.globalxetfs.com.hk/funds/china-cloud-computing-etf/

Global X China Robotics and AI ETF (2807)

https://www.globalxetfs.com.hk/funds/global-x-china-robotics-ai-etf/

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- Ex-Dividend Date: Nov 29, 2024. This means that if you hold our ETFs before this date, you may have the opportunity to enjoy monthly dividend payments (Distribution is at the discretion of the Manager. Dividend rate is not guaranteed. Distributions may be made out of capital) *.

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$A GX国指备兑(03416)$

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*Positive yield does not mean positive return. Covered call writing can limit the upside potential of the underlying security. Payments of distributions out of capital or effectively out of capital amounts to a return or withdrawal of part of an investor's original investment or from any capital gains attributable to that original investment. Any such distributions may result in an immediate reduction in the Net Asset Value per Share of the Fund and will reduce the capital available for future investment. Fund Inception Date: Feb 28, 2024. Source: Mirae Asset, Nov 13, 2024.

#While Covered call writing limits potential gains of the underlying security, it provides a relatively stable option premium income for investors.

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