To buy Chinese stocks from France, investors must distinguish between three types of listings: A-shares reserved for local investors and inaccessible to French retail investors, H-shares listed on the Hong Kong Stock Exchange and available through brokers such as Trade Republic, DEGIRO or Interactive Brokers, and ADRs listed on US exchanges and accessible on virtually all platforms. Among the major accessible Chinese companies are Tencent, Alibaba, BYD, SMIC and Z.ai on the Hong Kong side, and BABA, PDD, JD, Baidu and Li Auto on the US ADR side. Regarding ETFs, the Amundi PEA Chine (MSCI China) is the only one on the list eligible for the French PEA savings account, while the Xtrackers Harvest CSI 300 provides exposure to Chinese A-shares, which cannot be purchased directly. Investing in China carries specific risks: political decisions that can instantly shift an entire sector, VIE structures with uncertain legal solidity, potential delisting of US-traded ADRs, and currency exposure to the Hong Kong dollar and the yuan.
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