Today we are going to investigate Insider Monkey’s latest compilation about the the best Chinese stocks to buy now. The year of 2020 has been a really tough one for everyone in the world, as we have had to face with the first worldwide pandemic of our modern world. Millions of people were made redundant, whole industries were enforced to lockdown or at least slow down, and only very few industries and sectors could account profits. In the epicenter of all this trouble was China, as the pandemic broke out in Wuhan. Consequently, you might think that the Chinese economy has become the worse and poorest in the world. Actually, it’s a wrong conclusion. China is the only large economy in 2020 that could account positive growth. Believe it or not, but the International Monetary Fund expects the country’s economy to expand by 1.2% by the year’s end while other sources put that number closer to 2%. What’s more according to the World Bank’s report in October, Chine is about to head into a pretty strong 2021, with a predicted growth of 7.9%.
And now without a further ado, let’s see two companies from Insider Monkey’s compilation. Baidu (NASDAQ: BIDU) stands on the fifth spot with 43 hedge funds and $2.04 billion of total value of hedge fund holdings. Baidu is called the Chinese Google, and it’s pretty similar to the western alternative as it provides mapping, internet, search engine and Artificial Intelligence services. Baidu has lost 6 funds worth of investment lately, having a little decline. At present Currently it can be found on 43 hedge fun portfolios while this number in this year’s first quarter was 49. Baidu is followed by GDS Holdings Ltd. (NASDAQ: GDS) on the third spot, with 46 hedge funds and $2.71 billion of total value of hedge fund holdings. The company is a cutting edge solutions provider in the Chinese market. This year it has experienced fast growth having increased its net revenue by 43.0% year-over-year to $224.6 million in the third quarter. In the end of September GDS had already had more sales than in total year of 2019. For gaining more information please click the best Chinese stocks to buy now.