Equity Research in HK and Mainland China

Li Tang

Highly experienced sell-side analyst with more than ten years of experience in the field of China’s in-depth policy-driven macro research in China (Beijing) .
Covering in equity research in HK and Mainland market mainly real estate, construction,steel sector.
The Ideas generation based on an analysis of China’s future direction and policy decisions fundamental analysis on sector impact, market drivers, timing and scale, combined with quantitative analysis.

China Loan Prime Rate Unchanged as Regulators Turn the Attention to Supporting Supply Chains

Industrial Demand Recovery Remains Sluggish in December

Macroeconomics

<ul>
<li>Chinese banks were reportedly asked to start adding counter-cyclical factors in their renminbi quotes for the PBOC to set the daily yuan fixing rate.</li>
<li>Previous media reported that PBOC might revive the counter-cyclical factor when RMB depreciation accelerated faster.</li>
<li>We think there is limited room for further drops in RMB rates but likely to remain under pressure at a 7.0+ per dollar level for the rest of the year.</li>
</ul>


Chinese banks were reportedly asked to start adding counter-cyclical factors in their renminbi quotes for the PBOC to set the daily yuan fixing rate.
Previous media reported that PBOC might revive the counter-cyclical factor when RMB depreciation accelerated faster.
We think there is limited room for further drops in RMB rates but likely to remain under pressure at a 7.0+ per dollar level for the rest of the year.


China Re-Introduce Counter-Cyclical Factor in Setting Rmb Reference Rates