In his view, many Chinese stocks have had a steep run-up this year despite a lack of fundamentals to support that upward trajectory.
Because of this dynamic, Lin does not see the recent sell-off as a"once-in-a-lifetime" buying opportunity, but investors can certainly buy into the weakness now that the market is healthier than before. "The population in China is going to get older, richer but unfortunately sicker as well, and they need to have innovative drugs," he said."So they expedited their approvals for drugs to a yearly process, but before it would be a five-year process.
Meanwhile, property management, which provides home care and building maintenance services, has been an overlooked sector that's getting a lot of policy support.