China remains the world’s second-largest economy by nominal GDP and the largest by purchasing power parity, accounting for a sizeable share of global output and growth. In equity markets, China is just as significant: the MSCI China Index alone includes over 500 large- and mid-cap companies across A-shares (mainland China-listed, RMB-dominated stocks), H-shares (Chinese companies listed in Hong Kong and quoted in HKD) and overseas listings, representing about 85% of China’s investable equity universe.
For many Singapore investors, China stocks are back on the radar. On one side, you have some of the world’s most interesting names in e-commerce, super-apps, electric vehicles (EVs) and travel. On the other, you’re navigating headlines about regulations, property markets and US–China tensions.
This guide will cover how big China is in the global market, main ways to access Chinese markets from Singapore, key risks, a simple stock-picking framework, and an illustrative list of 10 top China stocks by theme.
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Table of Content
- How Big Is China in the Global Market?
- Why Singapore Investors Are Looking at Top China Stocks
- How Singaporeans Can Access Chinese Stocks
- Key Risks of Investing in Chinese Stocks
- A Simple Framework to Evaluate Top Chinese Stocks
- 10 Top China Stocks by Theme
- How Much China Exposure Makes Sense?
- Using ETFs to Get China Exposure
- Quick Takeaways
- Conclusion
- Frequently Asked Questions (FAQs)
How Big Is China in the Global Market?
China is one of the heavyweights of the global economy. By nominal GDP, it is the second-largest economy in the world, and by purchasing power parity it ranks first, accounting for a sizeable share of global output.
In equity markets, China also plays a major role. The MSCI China Index covers over 500 large and mid-cap companies across A-shares (mainland China–listed, RMB-denominated stocks), H-shares (Chinese companies listed in Hong Kong and quoted in HKD) and overseas listings, representing around 85% of China’s investable equity universe. The broader MSCI China All Shares Index goes further by combining all major share classes from Shanghai, Shenzhen, Hong Kong and offshore markets into a single, integrated view.
Because of this size and breadth, China often appears as one of the largest single-country exposures within global emerging-market and Asia-focused equity benchmarks. In other words, what happens in Chinese markets can meaningfully influence regional and emerging-market performance, making China a key market to understand even if it’s only a moderate part of your own portfolio.
Why Singapore Investors Are Looking at Top China Stocks
From Singapore, your portfolio might already lean heavily towards local banks, REITs and US tech stocks. Adding a measured slice of top Chinese stocks can introduce different drivers of return, such as onshore consumption, digital platforms, EV adoption and tourism recovery.
Common reasons Singapore investors look at Chinese equities:
- Scale and growth potential: Even with slower growth than a decade ago, China remains a major engine of global demand and manufacturing, while shifting towards services, technology and consumption.
- Unique sectors and business models: Super-apps like WeChat, pure-play EV makers and certain consumer brands don’t have direct equivalents on SGX, so China offers exposure you can’t easily get locally.
- Valuation reset: Years of regulatory actions, property stress and cautious sentiment have pushed many large-cap Chinese names to lower valuations than comparable companies elsewhere, which some investors see as an opportunity if conditions stabilise.
For Singaporean investors who can accept higher volatility in exchange for growth potential, Chinese stocks and China ETFs are often viewed as a satellite, higher-risk sleeve layered onto a global core.
How Singaporeans Can Access Chinese Stocks
From Singapore, you have three main ways to get exposure to top Chinese stocks:
- US-listed Chinese ADRs
- H-shares – Hong Kong–listed China shares
- China A-shares via Stock Connect and ETFs
Each route has different currencies, trading hours, fees and risks.
1. US-Listed Chinese ADRs
Many well-known Chinese companies trade in the US as American Depositary Receipts (ADRs), such as:
- Alibaba Group (BABA)
- JD.com (JD)
- PDD Holdings (PDD)
- Baidu (BIDU)
- Trip.com Group (TCOM)
An American Depositary Receipt is a negotiable certificate issued by a US bank representing a specified number of shares (or fraction of a share) in a foreign company. ADRs trade on US exchanges in USD and allow investors to gain exposure to non-US companies without trading directly on overseas exchanges.
| Pros | Cons |
| Trade during US market hours on NYSE/Nasdaq, usually with deep liquidity and tight spreads. | Delisting overhang: The US Holding Foreign Companies Accountable Act (HFCAA) allows delisting of foreign companies if audit inspections aren’t accessible, so delisting risk for some Chinese ADRs never fully disappears, even though recent agreements have reduced short-term fears. |
| Easy to view alongside your other US stocks and ETFs in the same brokerage account. | Currency layers: You fund in SGD, convert to USD, while earnings are mostly in RMB – so your final SGD returns reflect all three currencies. |
| Extensive English-language research coverage, earnings calls and analyst reports. | Overnight trading: US market hours are late evening to early morning Singapore time, which can make it harder to react in real time. |
For Singapore investors already active in US markets, ADRs are a convenient way to own top Chinese stocks like Alibaba or JD.com in a familiar environment.
2. H-shares – Hong Kong–Listed China Shares
Hong Kong is another major gateway to China stocks, with many big names primarily traded on HKEX, for example:
- Alibaba (9988.HK)
- Tencent (0700.HK)
- Meituan (3690.HK)
- BYD (1211.HK)
- Xiaomi (1810.HK)
| Pros | Cons |
| Trading hours align with your day: HKEX trades roughly 09:30–12:00 and 13:00–16:00 Hong Kong/Singapore time. | You’re exposed mainly to HKD and underlying RMB, instead of USD. |
| MAS-regulated brokers in Singapore, such as Syfe Brokerage, commonly offer direct HKEX access with SGD/HKD funding routes. | Hong Kong has its own stamp duty and trading levies (for example, 0.1% stamp duty on stock transfers), so it’s worth checking all-in costs with your broker. |
| For many companies, Hong Kong is the primary listing, which may offer more robust liquidity if ADRs face issues. |
For long-term investors in Singapore, owning Hong Kong–listed China shares often feels like a natural way to hold Chinese companies, especially if you prefer Asian trading hours.
3. China A-Shares via Stock Connect and ETFs
A-shares are stocks of mainland Chinese companies listed on the Shanghai (SSE) or Shenzhen (SZSE) exchanges and quoted in RMB. Historically, they were hard for foreign investors to access directly, but that has changed.
Through Stock Connect, Hong Kong and overseas investors can trade eligible A-shares and some ETFs in Shanghai and Shenzhen via Hong Kong brokers, under a daily quota system.
For Singapore investors, the most common ways to gain A-share exposure are:
- China A-share ETFs listed in Hong Kong, SGX or the US.
- Broad China indices (e.g. MSCI China A, MSCI China All Shares) that include A-shares via Stock Connect.
This route is especially useful if you want exposure to onshore sectors – such as consumer staples, healthcare, industrials or domestically focused manufacturers – which may not show up as prominently in ADRs or Hong Kong-only baskets.
Key Risks of Investing in Chinese Stocks
The opportunity in top Chinese stocks comes with specific risks. Being clear on these helps you size and structure your exposure sensibly.
Policy and Regulatory Changes
Chinese regulators have demonstrated they can move swiftly, especially in areas like fintech, education and internet platforms. The 2020–2022 tech and education crackdowns, for example, wiped hundreds of billions off Chinese tech valuations and reshaped entire sectors.
As an investor, you should be comfortable with:
- More policy headlines and regulatory updates than in many developed markets.
- The possibility that a sector in favour today may face tighter rules later.
- The idea that government priorities (e.g. “common prosperity”, data security, financial stability) can directly influence corporate strategies.
Geopolitics and Delisting Risk
US–China relations influence:
- Tariffs and export controls (especially in semiconductors and AI).
- Listing and audit rules for US-traded Chinese companies (ADR delisting risk under HFCAA).
Even if a business remains fundamentally sound, geopolitical actions can move its share price sharply or affect where and how it can be listed. This is one reason many investors diversify across ADRs, Hong Kong listings and China ETFs, rather than relying on a single listing venue.
Currency and Liquidity
When you buy top Chinese stocks, your SGD returns depend on:
- RMB movements versus USD and SGD.
- HKD movements (if you own Hong Kong shares).
- Liquidity, especially for mid- and small-caps, where bid–ask spreads can widen during volatile periods.
Because of this, many investors prefer to:
- Focus on larger, more liquid names, or
- Use diversified ETFs, where underlying liquidity is usually stronger than a single thinly traded stock.
Volatility and Concentration
Chinese stocks have historically shown higher volatility than many developed-market equities, driven by changing policies, shifting sentiment and macro headlines.
Practical guidelines that many investors follow:
- Treat China as a supporting (satellite) allocation, rather than the core of your equity portfolio.
- Spread exposure across multiple themes (e-commerce, platforms, consumer, travel, EVs, financials) instead of concentrating everything in just internet platforms or one hot EV name.
That way, you can still participate in China’s potential upside while keeping overall portfolio risk closer to your comfort level.
A Simple Framework to Evaluate Top Chinese Stocks
Instead of jumping from one “best China stocks” list to another, it helps to have a simple checklist you can apply to any company you’re considering.
1. Business Quality and Competitive Position
Start by understanding what the company actually does and how strong its position is. Ask:
- What does this company actually do in plain language?
- Is it a category leader – for example, in e-commerce, search, social platforms, EVs or travel?
- Does it enjoy network effects, brand strength or switching costs that make it harder for users, merchants or partners to leave?
- Is the business direction broadly aligned with China’s long-term policy priorities, such as domestic consumption, green energy, advanced manufacturing and technology self-sufficiency?
This helps you distinguish between businesses with durable advantages and those mainly riding short-term hype.
2. Financial Health and Cash Generation
Next, look at how the company is funded and how consistently it turns revenue into cash:
- Is revenue growth steady, or driven mostly by subsidies and aggressive promotions?
- Are profit margins and free cash flow trending in a healthy direction?
- Does the company carry manageable levels of debt for its industry, especially in more cyclical or capital-intensive sectors?
Some China stocks may look cheap on headline valuation, but weak balance sheets or inconsistent cash flow can make them riskier than they appear.
3. Valuation and Room for Error
Chinese stocks often trade at a discount to similar companies in developed markets, partly because investors price in additional risk. That discount can be an opportunity, but only if you understand why it exists. Ask yourself:
- Is the lower valuation mainly because of short-term news and sentiment, or are there deeper concerns around governance, business quality or state influence?
- At today’s price, is there a margin of safety if earnings disappoint or if sentiment turns cautious again?
The goal isn’t to find the absolute cheapest share, but to find fairly priced risk – where potential returns justify the uncertainties.
4. Connection to Long-Term Themes
Finally, consider how the company fits into broader trends that could play out over many years, not just the next quarter:
- Growth of China’s middle class and services consumption.
- Expansion of digital platforms, cloud and AI.
- Transition to EVs, batteries and renewable energy.
- Recovery and growth in domestic and outbound travel.
Prioritising companies that are well-positioned in these areas can help you stay focused on long-term drivers, instead of reacting to every short-term headline.
10 Top China Stocks by Theme
Note: The companies below are examples of widely discussed Chinese stocks. They are not personal investment advice or a recommendation to buy or sell. Always do your own research and consider your risk profile.
Today’s top China stocks can be grouped into four themes relevant for Singapore investors.
Theme 1: E-Commerce and Platforms
Alibaba Group (US ADR: BABA; HKEX: 9988)
Alibaba is a technology group best known for its e-commerce marketplaces Taobao and Tmall, alongside Alibaba Cloud, logistics operations and digital media services. It provides technology infrastructure and marketing reach for merchants, brands and retailers across China and globally.
Why it is watched
- One of China’s largest e-commerce platforms with a broad ecosystem spanning retail, cloud and logistics.
- Undergoing a multi-business restructuring aimed at unlocking value and improving agility.
- A top holding in many China and emerging-market equity indices and ETFs, so widely held by global investors.
JD.com (US ADR: JD; HKEX: 9618)
JD.com is a leading Chinese e-commerce company that runs an online retail and marketplace platform backed by a large self-operated logistics network. It positions itself on authentic products, fast delivery and tight supply-chain control, and also operates JD Logistics as a separate segment serving internal and external clients.
Why it is watched
- Direct exposure to upgrading consumer spending and demand for reliable delivery in China.
- Owns and operates a nationwide logistics network with thousands of warehouses, seen as a competitive moat.
- Frequently cited as a major rival to Alibaba in China’s e-commerce sector and a key component in China tech indices.
PDD Holdings (US ADR: PDD)
PDD Holdings is a multinational commerce group that owns Pinduoduo in China and Temu globally. Pinduoduo focuses on value-for-money, highly interactive shopping, while Temu has expanded rapidly in overseas markets with low-priced, marketplace-style offerings.
Why it is watched
- One of the fastest-growing large e-commerce players, with strong revenue and profit growth in recent years.
- Temu’s global push makes PDD a bellwether for China-to-overseas discount platforms and cross-border e-commerce.
- Faces notable policy and trade risks (for example around tariffs and de minimis rules), making it closely monitored by investors and regulators alike.
Theme 2: Online Services and Entertainment
Tencent Holdings (HKEX: 0700; US OTC ADR: TCEHY)
Tencent is a diversified technology conglomerate built around WeChat/Weixin for messaging, social feeds, mini-programs and payments, and a large global online gaming portfolio. It also has meaningful businesses in fintech, cloud and enterprise services, making it central to China’s digital ecosystem.
Why it is watched
- Considered a core China tech holding in many global and EM funds, with large index weights.
- Multiple growth engines (social, gaming, fintech, cloud) provide diversified exposure to China’s digital economy.
- Regularly scrutinised for its role in content, data and gaming regulation, making it a key gauge of Chinese policy towards internet platforms.
Baidu Inc. (US ADR: BIDU; HKEX: 9888)
Baidu started as China’s leading internet search provider and has evolved into an AI-driven technology company with businesses in cloud services, autonomous driving (Apollo) and smart devices, alongside its core advertising platform.
Why it is watched
- Dominant player in Chinese-language search, giving it a strong data and user base for advertising and AI training.
- A key name in China’s AI and autonomous driving push via Apollo Go robotaxis and related platforms.
- Often used by investors as a focused way to access China’s AI ecosystem, alongside US and other global AI leaders.
Theme 3: Consumer and Travel
Yum China (US ADR: YUMC; HKEX: 9987)
Yum China is the licensee and operator of restaurant brands such as KFC and Pizza Hut in mainland China, and is one of the largest restaurant companies in the country. It is dual-primary listed on the NYSE and HKEX and continues to expand across lower-tier cities with a mix of company-owned and franchised stores.
Why it is watched
- Direct exposure to China’s growing middle class and dining-out trends through well-known quick-service and casual dining brands.
- Aggressive store expansion across underpenetrated cities, making it a structural growth story in consumer services.
- Seen as a way to tap China’s consumption upgrade without owning internet platforms or e-commerce stocks.
Trip.com Group (US ADR: TCOM; HKEX: 9961)
Trip.com Group is a leading online travel platform, offering accommodation booking, transportation ticketing and packaged tours via brands such as Trip.com, Ctrip, Qunar and Skyscanner. It serves travellers in China and worldwide and is one of the largest online travel agencies globally.
Why it is watched
- Key beneficiary of recovery in domestic and outbound Chinese travel following Covid-19 restrictions.
- Global footprint and metasearch assets make it important in the global travel and tourism value chain.
- Cyclical sensitivity to macro conditions and travel policies means it is closely tracked as a gauge of Chinese consumer confidence and mobility.
Theme 4: New Energy, EVs and Local Services
BYD Company (HKEX: 1211; US OTC ADR: BYDDY)
BYD is a high-tech group and one of the world’s leading manufacturers of new energy vehicles (NEVs) and batteries. Through BYD Auto, it designs and sells electric and plug-in hybrid cars, buses and commercial vehicles, and also produces rechargeable batteries and energy storage systems.
Why it is watched
- Among the largest EV makers globally, with strong market share in China and rising exports to Europe and other regions.
- High degree of vertical integration in batteries and key components, often cited as a cost and technology advantage.
- Considered a flagship name for investors seeking focused exposure to China’s EV and battery supply chain.
NIO Inc. (US ADR: NIO; HKEX: 9866)
NIO is a Chinese premium smart EV manufacturer that designs, develops and sells electric SUVs and sedans, and differentiates itself with battery-swapping technology and related energy services. It has primary listing in the US and additional listings in Hong Kong and Singapore.
Why it is watched
- Early pioneer of battery-swapping and battery-as-a-service (BaaS), seen as an innovative approach to charging and ownership.
- Acts as a high-beta way to express views on China’s premium EV demand and charging ecosystem.
- Its multiple listings and recent legal and market developments make it closely followed as a case study in governance, disclosure and cross-border listing risk.
Meituan (HKEX: 3690)
Meituan is a technology-driven local services platform and China’s largest food-delivery player. It connects consumers with merchants across food delivery, in-store services, hotel and travel bookings, and operates through Core Local Commerce and New Initiatives segments.
Why it is watched
- Dominant food-delivery and local-services platform in China, with an estimated 60–70% market share in food delivery and hundreds of millions of annual users.
- Considered a key beneficiary of long-term trends in on-demand services, local commerce and travel.
- Profitability and revenue growth trends are closely monitored as indicators of consumer demand and competitive intensity in China’s local-services market.
How Much China Exposure Makes Sense?
There’s no fixed “right” amount of China exposure – it really depends on your risk appetite, time horizon and existing holdings. But if you’re thinking specifically in terms of individual Chinese stocks, it helps to frame the decision in two steps:
- How big China should be within your equity allocation, and
- How many names and how much to put into each.
Many investors choose to treat China as a modest satellite allocation within their overall stock portfolio rather than the core. For example, some might cap their total China stock exposure (including Hong Kong–listed names and Chinese ADRs) at a small percentage of overall equities, and then spread that across a handful of positions. The idea is to benefit from China’s growth potential without letting one market dominate your portfolio.
From a stock-picking lens, one approach is to:
- Decide on a target number of Chinese stocks you’re comfortable tracking – for instance, 5 to 10 names across different themes (e-commerce, platforms, consumer, travel, EVs).
- Keep position sizes modest for each name – for example, small single-digit percentages of your equity portfolio per stock – so no single position can derail your overall plan if it underperforms.
- Aim for sector and listing diversification: mix US ADRs and HKEX listings, and avoid putting everything into just one sector like internet platforms or just one theme like EVs.
If you already own global or Asia funds that hold large positions in Alibaba, Tencent, Meituan and other top China stocks, it’s also worth checking for overlap so you don’t unintentionally double up on the same names. Ultimately, the goal is for your China stock sleeve to complement your existing investments, fit within your overall risk profile, and still be manageable enough for you to follow the underlying businesses over time.
Using ETFs to Get China Exposure
If picking individual stocks feels overwhelming, China ETFs can be a straightforward way to participate in the country’s growth without following every stock.
Benefits of China ETFs
- Instant diversification across hundreds of Chinese stocks, including many top China stocks mentioned in this article.
- Reduced impact from company-specific events (e.g. a single stock facing sudden regulatory news).
- Easier to implement dollar-cost averaging (DCA) and periodic rebalancing.
Trade-offs to keep in mind
- You give up the potential upside of picking a small number of big winners.
- You still carry market-level China risk, such as growth slowdown or broad policy shifts.
You can learn more about China ETFs in our full guide here.
Quick Takeaways
- China is a major global market, with MSCI China covering 500+ large and mid-cap stocks that represent around 85% of the investable China equity universe.
- Singapore investors can access top Chinese stocks via US-listed ADRs, Hong Kong shares and China/EM ETFs, each with different trading hours, fee structures and currencies.
- The main risks include policy and regulatory shifts, geopolitics and delisting, currency moves and higher volatility compared with many developed markets.
- A simple evaluation framework looks at business quality, financial health, valuation and long-term themes like consumption, digital platforms, AI and EVs.
- Many investors treat China as a modest satellite allocation (for example, a small percentage of total equities), combining broad ETFs with a handful of carefully researched stocks.
Conclusion
For a Singapore-based investor, top China stocks can add a different dimension to your portfolio. You’re looking at companies that sit at the centre of e-commerce, super-apps, AI, EVs, travel and everyday consumer spending – areas that don’t show up as strongly in local or even US markets. At the same time, you’re investing in a market where policy shifts, geopolitics and sentiment can move prices quickly, so it’s not a place to invest on headlines alone.
A practical way to approach Chinese stocks is to start with a clear role for them in your portfolio – whether that’s a growth tilt, regional diversifier, or a small satellite allocation. From there, focus on a shortlist of names you’re prepared to follow: businesses with understandable models, solid balance sheets, exposure to long-term themes, and valuations that make sense given the risks.
It also helps to spread your picks across themes – for example, mixing platforms, consumer and EV names, rather than concentrating everything in one sector – and to keep individual position sizes modest so no single stock can dominate your outcome.
You don’t have to be “all in” on China to benefit from its long-term potential. A measured, stock-focused allocation, sized to your risk appetite and time horizon, can let you participate in China’s growth story while still keeping your overall portfolio balanced and manageable.
Ready to invest in China? Explore your options with Syfe today
- Syfe Brokerage (self-directed): Build your own China view with full access to KraneShares ETFs and other major listings.
- China Growth (thematic portfolio): Targeted exposure to China’s “new economy” leaders, including the flagship KWEB (China Internet ETF).
- Syfe Core portfolios (with EM allocation): Get indirect China exposure as part of a globally diversified mix that includes emerging markets.
Frequent Asked Questions (FAQs)
1. Are top China stocks suitable for beginners in Singapore?
They can be, but usually only as a small part of a diversified portfolio. Beginners often find it easier to start with China or EM ETFs that include many top Chinese stocks, then gradually add individual names once they understand the risks and mechanics of trading foreign markets.
2. Should I buy Chinese ADRs or Hong Kong–listed shares?
It depends on your preferences and existing setup:
- ADRs fit naturally if you already invest heavily in US markets and prefer USD assets, but you’ll need to accept US regulatory and ADR delisting risk.
- Hong Kong–listed shares trade in a familiar time zone, and are often key listings for major Chinese firms, though you’ll deal with HKD exposure and Hong Kong trading costs.
Many investors choose to use a mix, or lean towards Hong Kong listings for long-term holdings and ADRs for convenience.
3. How much of my portfolio should I allocate to China
There’s no one-size-fits-all answer. Many investors keep their total China exposure – including China, Asia and EM funds – within a modest proportion of their equity portfolio, for example around 5–15%, depending on risk tolerance and conviction. If you’re more conservative, stay near the lower end and rely more on broad ETFs rather than concentrated stock picks.
4. Are China ETFs safer than individual Chinese stocks
ETFs don’t remove China country risk, but they reduce single-company risk by spreading your money across many holdings. If one stock faces regulatory or business issues, its impact on the overall ETF is limited.
For investors who want exposure to top China stocks but aren’t confident selecting individual names, broad or thematic China ETFs are often a sensible starting point.
5. What should I look for in a broker to trade China stocks from Singapore
Look for a broker that gives you access to the markets you care about (for example US/Hong Kong), and keep an eye on the overall cost of trading – not just headline commissions. It’s also sensible to choose a MAS-regulated platform you find easy to use and fund, so that managing your China stock positions fits smoothly into how you already invest.
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