Salient to Investors:
Liu Guangming at Dongxing Securities said investors may have expectations for some reforms after the NPC, and the economy is quite stable, at least in half1.
Ting Lu at Bank of America said the surge in forex purchases is due largely to a pent-up demand for renminbi with a rebound of confidence in renminbi and the Chinese economy.
Tang Yonggang at Hongyuan Securities said property shares are cheap after slumping heavily. The Shanghai property measure trades at 9.87 times reported profit versus the 5-yr average of 18.7.
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