The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

A tale of two Chinas

Why being positive on Chinese macro and the big four banks, but bearish on the rest of the financial sector, is not a contradiction in terms.

cw-on-asia-banner-600x183

The week of September 11 brought a glut of conferences to Hong Kong and Singapore, united by one thing: people being very positive about China.

That was to be expected at the Hong Kong Trade Development Council’s we-love-the-motherland Belt and Road Summit, where one could hardly imagine Hong Kong chief executive Carrie Lam, or the senior members of China’s National Development and Reform Commission and various key ministries, saying anything negative.

But the CLSA event – whose China day on the Tuesday is a highlight when some of the best analysts in the industry let loose on their outlook for the mainland – was also uncharacteristically cheerful.

Nicole Wong regional head of property research, said changes in policy “are going to make the property market a lot safer than we have always known it to be.”

An Patricia Cheng, head of China financial research, explained her overweight recommendation on Chinese banks, saying she had “more confidence about bank asset quality” and that there was “a lot more downside protection than before.”

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree