We are pleased to launch the Industry Multiples of China 2025 report. This report provides an evaluation of key trading metrics across the industrial sectors of the Chinese economy as of September 30, 2025.
Key Highlights
- China GDP Growth: 5.2% in first three quarters, exceeding the 5% annual target and IMF’s global forecast of 3.2%.
- Market Performance: Shanghai Composite +15.8%, MSCI China +39%, Hang Seng +36% YTD.
- Leading Sectors
- Technology: strong momentum driven by AI innovation and major funding rounds
- Healthcare: growth supported by regulatory reforms and AI adoption in hospitals
- Communications: Boosted by accelerated 5G-A rollout and infrastructure investment
- Challenges: Consumer sectors under pressure; real estate and financials remain weak with low price-to-book ratios.
- Valuation Trends: Multiples in tech and healthcare at multiyear highs, signaling strong investor confidence.
We hope this report gives our readers a broad sense of the range of trading multiples for major industries in China and help to stay ahead with Kroll on valuation. Readers should seek professional assistance and perform detailed valuation analysis before applying multiples on specific valuation subjects. Kroll has both global resources and local expertise to assist clients in meeting their valuation needs.
Stay Ahead with Kroll
Valuation Services
When companies require an objective and independent assessment of value, they look to Kroll.