The Fidelity Analyst Survey reported that 36 per cent of the company's analysts predict that China's slowdown will have no impact or will be positive for global companies' strategic investment plans.
"Some companies have limited exposure to China and some can even turn this headwind as [a] business growth opportunity," Fidelity International head of research Leon Tucker said.
"The impact is not universal to all companies across regions and sectors."
While 61 per cent of analysts covering the global IT sector believe China's slowdown will have a negative impact on company fundamentals, sector leaders with large cash reserves may benefit from the situation.
"Hot money that has kept underperformers afloat should start to dry up, shrinking multiples and causing weaker firms to go bust," Mr Tucker said.
"This means the internet champions we favour will find themselves in a great position to acquire competitors at cheaper valuations than in the past few years."
In China, the consumer sector is likely to be the least affected.
"Despite stock market volatility, Chinese retail sales remained stable, while auto purchases and first-tier city house prices rose," Mr Tucker said.
Fidelity found that the worst investment outlooks in China, unsurprisingly, come from the materials, industrials and energy sectors.
"Our conversations with management teams in China indicate the economic rebalancing towards consumption is affecting Chinese companies' management confidence, capex plans and earnings growth," Mr Tucker said.
"While this will undoubtedly be a bumpy ride, the trajectory does not appear at risk."
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