China economy looks grim but these ASX stocks could still be winners

Malloy favours China-listed companies including Alibaba, Kuaishou Technology and Baidu. Among the ASX 200, UBS has identified 35 “China plays”. The list is dominated by resources companies but also includes strong representation from stocks in the food production (Graincorp, A2 Milk and Clover) and transport sectors (Flight Centre, Qantas, Brambles and Kelisan Group). China plays UBS analyst Richard Schellbach calculates that the average ASX 200 stock is now 11.3 per cent cheaper than before the COVID-19 pandemic based on an average price to earnings (PE) multiple of profits investors must pay for shares. But the median stock within the "China…