It has been almost a year since the novel coronavirus was first detected in China, where it went on to trigger an acute health crisis and economic fallout that would soon go global.

But while most of world is still grappling with Covid-19, China is reporting little to no community spread and a market recovery. With the MSCI China Index up about 23 percent for the year and renewed investor interest in the Chinese A-share market, market observers are expressing cautious optimism.

“The past year saw a roller coaster ride for the global economy and to some extent [the] capital markets amid the Covid-19 pandemic,” said Eric Lin, head of research at UBS Securities Co., Ltd., the Chinese subsidiary of UBS. “China’s economy had suffered and recovered earlier than rest of the world, making it one of the few economies to grow GDP in 2020.” 

Still, international and domestic clients remain focused on the pandemic, and whether China will continue to outpace rest of the world in terms of recovery, according to Lin.

Investors have turned to a top tier of domestic and international firms to help them answer that question, based on the results Institutional Investor’s eleventh annual All-China Research Team. While domestic firms still dominate, international firms have made significant inroads in 2020...

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