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China defence: Taiwan tensions lift arms makers as economy slows
Lex專欄:中國軍工股看漲

Investors have little to worry about over budget cuts, though some will have ethical qualms about Chinese defence stocks
中國今年軍費支出將增加逾7%,這是近年最大增幅。這將使中國的軍工行業湧現贏家,其他許多行業湧現輸家。

History shows that heavy spending on armaments may reduce rather than increase stability. Still, the two goals align nicely for delegates at China’s annual National People’s Congress. Within Chinese business, this will create winners among defence companies and losers across many other sectors.

歷史表明,在軍備上大量支出可能會降低、而不是增加穩定。儘管如此,對中國一年一度的全國人民代表大會的代表們來說,這兩個目標非常吻合。在中國企業界內部,這將使軍工行業湧現贏家,其他許多行業湧現輸家。

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