Treating China as 'un-investable' would be 'wide of the mark': JPMorgan strategist

Although China's economy is facing difficulties, treating it as un-investable would be the wrong call, said John Bilton, head of global multi-asset strategy at JPMorgan Asset Management.

"I don't think you can treat the world's second-largest economy as either an alternative investment or un-investable; that would be wide of the mark," Bilton told CNBC in a recent interview.

China's declining population means the labour force is also shrinking, and the labour force is the most significant factor in economic growth, Bilton said, adding that the other drivers of economic growth have to do "a lot of heavy lifting."

"Some more joined-up policy with regard to the direction of monetary policy, tackling the disinflation issue that's there, and also some sign that the real estate issues are behind us," he said.

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Bilton said there are opportunities for investors in China, adding that the Chinese government bonds could be one of them.

The immense size of China's fixed income market and the relatively small amount of international money within it, as well as the potential for rates to be cut due to disinflation, are some of the reasons for this, Bilton explained.

Stock markets remain the other option, as there are still substantial stock-picking opportunities in China, he said.

"There's a lot the economy needs to do to evolve in terms of the financial sector, dealing with an aging population, transportation, services, etc.," he said.