Sharukh Malik, manager of the Guinness Best of China fund, agreed Chinese stocks appeared cheap on a historic basis.

“At a 12.6 times multiple of 2022 earnings, they are valued at an 8pc discount to the average over five years, since the big technology stocks were added to the index.

“There is little future growth priced in, though market earnings are forecast to grow 16pc a year in 2022 and 2023. This is faster growth than the wider Asian region, faster than Europe and faster than the US and yet is valued much lower.” 

Ms Jordan highlighted the £1.7bn Fidelity China Special Situations fund as a potential beneficiary. The trust is a popular pick among DIY investors, but has shed 28pc of its value in the past year after tighter regulation within the technology industry hurt its top holdings Tencent and Alibaba. 

Both stocks have grown since the start of the year, up 3pc and 4pc respectively. Meanwhile in the US, tech giants such as Microsoft and Google have lost more than a tenth of their market value. 

“It is likely Chinese tech companies have passed peak regulation and a recovery in the shares could be expected after a disastrous 2021,” she said. “Fidelity China should benefit from this.” The trust traded at a 1pc discount to the value of its net assets.

For investors seeking to profit more indirectly from economic growth in China, wealth manager Brewin Dolphin pointed to British and European companies with high exposure to the region. 

Rob Burgeman, of the wealth manager, highlighted the luxury retailer Louis Vuitton Moet Hennessy, which derived just over a third of its profits from Asia, excluding Japan, in its 2020 financial year. 

He also suggested the London-listed drinks-maker Diageo. “The company is benefiting from the global trend towards ‘premiumisation’ in a fragmented Chinese market,” he said.