The table below presents the sector weightings of the Shanghai SSE Composite Index, the primary benchmark for mainland China’s stock market. As of January 1st, 2025, the largest sector within the index is the Financials & Real Estate sector, which accounts for 27.4% of the total index market cap. This is followed by the Industrials sector, which holds an 18.7% share of the index.
Mainland China’s stock market remains largely dominated by financial institutions such as banks and insurance companies, as well as major industrial firms. These sectors play a crucial role in the Chinese economy, reflecting the country’s focus on infrastructure, manufacturing, and state-owned enterprises.
One notable characteristic of the SSE Composite Index is the relatively small weighting of the Information Technology and Communication Services sectors. Many of China’s leading tech firms—including Tencent, Alibaba, and Meituan—are listed on the Hong Kong Stock Exchange rather than on the Shanghai Stock Exchange. This helps explain the lower representation of technology firms in the mainland index and highlights the segmented nature of China’s equity markets.
SSE Composite Index – Sector Weightings
| GICS Sector | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 |
|---|---|---|---|---|---|---|
| Financials & Real Estate | 27.4% | 23.4% | 23.7% | 24.2% | 33.2% | 36.6% |
| Health Care | 5.4% | 6.9% | 6.5% | 6.9% | 4.8% | 5.0% |
| Consumer Staples | 7.2% | 9.2% | 10.5% | 10.4% | 6.0% | 8.6% |
| Consumer Discretionary | 6.4% | 6.7% | 7.6% | 8.1% | 10.2% | 7.7% |
| Industrials | 18.7% | 19.6% | 21.1% | 20.1% | 18.7% | 15.3% |
| Materials | 8.2% | 8.7% | 9.6% | 10.6% | 8.9% | 8.2% |
| Energy | 7.5% | 7.4% | 6.2% | 5.4% | 9.0% | 6.9% |
| Utilities | 4.8% | 4.9% | 4.7% | 4.0% | 4.2% | 4.0% |
| Communications | 3.6% | 3.7% | 2.9% | 2.2% | 1.3% | 2.8% |
| Information Technology | 10.8% | 9.5% | 7.2% | 8.3% | 3.7% | 4.9% |
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