Sustainability as new investing theme rises

Sustainability will be one of the most exciting investment themes in China's stock market in the years to come as green efforts across the globe are spurring the growth of Chinese new energy companies, top global asset managers said.

BlackRock, the world's biggest asset manager, said on Wednesday it has moved to an overweight position on new energy over the past six months and is prudently rejigging its portfolio with investments in solar inverters, electric vehicle batteries and photovoltaic-related components.

"This is not solely based on the global sustainability drive and climate change, but also on the increasing role we see China stepping into as a reliable global supplier of sustainability solutions. We have spotted companies with defendable global positions in these areas," the company said in its mid-year Asia investment outlook.