Bo Zhuang

Bo Zhuang

Managing Director and Chief China Economist

Bo Zhuang joined TS Lombard in 2007 as an economist and went to Beijing three years later to establish the TS Lombard office which he heads. In his analysis he draws on his local experience, extensive travel through China and a network of expert sources. He focuses on China’s growth transition and the way its top-down policies affect the real economy. The main themes he covers include the country’s political-business cycle, shadow banking, municipal bonds, SOE reform, local government debt and the labour market. He has successfully called macro-economic developments since 2008, including growth, deflation, currency, reform, non-bank finance and debt.

Bo has a Master’s degree in economics from the University of Warwick and a Bachelor’s degree in economics and management from the University of London.

Bo Zhuang contributes to the EM Watch and China Watch publications.

EM Watch: Analysis of EM sentiment drivers and fundamental or policy country developments on 10 emerging countries. (Every Monday)
China:  Analysis of key economic and policy drivers and what they mean for China related markets. (One note per week)

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- China

Bo Zhuang's Top Market Calls

We said: China was first-in the Covid-19 crisis and would be first out. Korea and Taiwan also stood out for the management of the pandemic, their close linkages to China, and the weight of Tech in their stock market indices. In our AA model portfolio we’ve been o/w China Equities since March, and Korea and Taiwan since May.
Outcome: China equities are up 48% (in USD terms) since March; Korea and Taiwan by 34% and 31% since May, respectively – outperforming the MSCI-ex US, which rose 36% and 18% over these periods. (As of 23-Oct-2020.)

"In my 10 years of reading and following China, Bo Zhuang is the best and most insightful analyst I have ever met/read/followed. His non-standard approach is spot on".
Director, Fixed Income, Asset Management firm running $276bn, London, UK
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