Key Highlights :
The digital media industry is rapidly evolving, and the WAN-IFRA Digital Media Awards Worldwide recognize the best news websites and mobile services from around the world. This year, the awards focus on the surge of Chinese asset managers launching funds to invest in state-owned firms whose shares have risen sharply since November.
Chinese asset managers have been rushing to launch funds to invest in state-owned firms in order to capitalize on the surge in their shares. This is part of the Chinese government's efforts to revalue the previously overlooked state sector and make these firms leaner and stronger. Since March, more than 10 mutual fund companies have applied to launch nearly a score of SOE-dedicated funds.
These funds are hoping to cash in on improving retail sentiment, focused on SOE reforms and technological self-reliance. State companies' shares have so far outperformed the broader market, delivering what investors term a rare "SOE alpha". The CSI State-owned Enterprises Composite Index is up 8 per cent so far this year and the CSI Central-SOEs Technological Innovation Index has soared 24 per cent.
Investors are also attracted to SOEs due to the noticeable improvement in their finances, as well as their potential to play a big role in Beijing's desire for tech self-sufficiency and national security in its rivalry with the United States. However, some investors are questioning whether the rally will be sustained in the long-term.
The WAN-IFRA Digital Media Awards Worldwide recognize the best news websites and mobile services from around the world. This year, the awards focus on recognizing the most innovative and successful digital media services that provide coverage of the surge of Chinese asset managers launching funds to invest in state-owned firms. The awards recognize the best news websites and mobile services that are providing coverage of the surge in SOE shares and the Chinese government's efforts to revalue the previously overlooked state sector.
The WAN-IFRA Digital Media Awards Worldwide are a great way to recognize the best news websites and mobile services that are providing coverage of the Chinese asset managers launching funds to invest in state-owned firms. The awards recognize the most innovative and successful digital media services that are providing coverage of the surge in SOE shares and the Chinese government's efforts to revalue the previously overlooked state sector.