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The market value of mainland Chinese shares owned by foreign institutions grew by 67.5 billion yuan (approximately $9.9 billion) in the first quarter, with Abu Dhabi Investment Authority leading the way. Offshore investors were among the top ten shareholders of 1,521 Chinese stocks during the three months ending March 31, holding a combined total of 11.5 billion shares valued at around 195.1 billion yuan ($28.6 billion). This reflects an increase of 4.6 billion shares and 67.5 billion yuan from the previous year.
Qualified foreign institutional investors (QFIIs) increased their holdings in 473 stocks, bought into 685 new companies, and reduced their stakes in 336 firms during the quarter. Leading the new acquisitions were companies involved in solar energy and resource extraction. Notably, BOE Technology Group was the leading buyer among QFIIs, adding 300 million shares. TCL Technology Group purchased 166 million shares, Zijin Mining Group added 141 million shares, and Southwest Pharmaceutical bought 113 million shares.
In terms of market value, Zijin Mining topped the list after Abu Dhabi Investment Authority acquired 4.63 billion yuan ($679.4 million) worth of its shares. TFC Optical Communication came second, with Morgan Stanley and UBS Group buying a combined 3.71 billion yuan worth of shares of the Chinese optical fiber components manufacturer. InnoLight Technology also ranked third, with Morgan Stanley acquiring approximately 3.7 billion yuan worth of its shares.
The Abu Dhabi Investment Authority was the leading offshore investor in the Chinese mainland market in the first quarter, with its holdings more than tripling to 19.5 billion yuan (about $2.86 billion) as of March 31, up from December 31. The investment firm primarily purchased shares of BOE Technology, TCL, Zijin Mining, and Shengyi Technology.
Goldman Sachs, via its two QDII funds, ranked among the top ten shareholders of 894 publicly listed Chinese companies at the end of the quarter. It made significant adjustments to its portfolio by buying into 525 new stocks, increasing holdings in 219 stocks—including Highsun Media New Materials and Huafang—and reducing positions in 150 companies such as Pengling Group and Sanxia New Building.
Morgan Stanley focused more on the artificial intelligence computing industry. It was among the top ten shareholders in 316 listed companies during the first quarter, acquiring shares in 249 new companies, increasing stakes in 34, and trimming positions in 33. As of March 31, Morgan Stanley’s holdings were valued at approximately 17.2 billion yuan. Its largest positions included InnoLight and TFC Communication in the optical communications sector, as well as China XD Electric in the power equipment sector.
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