During the fourth quarter, we continued to build positions in China’s A-share market. We added two more new names to this space, Jiangsu Hengrui Medicine (SHSE:600276) and Kweichow Moutai. While Jiangsu Hengrui is the market leader in Chinese pharmaceuticals, Moutai—China’s most well-recognized premier brand of white liquor—saw challenges.
Jiangsu Hengrui (SHSE:600276) possesses strong R&D capabilities and operates in the country’s attractive and rapidly growing oncology drug space.
From Matthews China Fund (Trades, Portfolio) Q4 2014 Commentary.
