Why this portfolio manager likes Chinese stocks

STORY: "What you're seeing China start to do now is go back towards that export-oriented economy, which I think can get them out of this rut. I think that's going to incentivize them to work with US policymakers."

To that end, U.S. Treasury Secretary Janet Yellen warned China on Monday that Washington will not accept new industries being decimated by Chinese imports, as she wrapped up four days of meetings to press her case for Beijing to rein in excess industrial capacity.

While Coons said that China will eventually look to move back to a consumer-based economy, he believes that the country's "export focus is a catalyst for growth in China. And so that's why we think right now is the time to start increasing your allocation to to Chinese equities."

Specifically, he likes large cap Chinese tech companies, such as Alibaba, Baidu and JD.com.