In today’s briefing:
- China Banks Screener; PingAn Bank Is Our Top Pick, Followed by CCB
China Banks Screener; PingAn Bank Is Our Top Pick, Followed by CCB
- Chinese banks remain broadly out of favour due to growth and property sector concerns; we see some value opportunities
- We like PingAn Bank, in particular, for its attractive valuations, compelling PEG ratio and potential for higher returns; we also remain positive on CCB
- We remain negative on China Minsheng due to its low ROE, poor delinquency and NPL coverage
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