Researches & Commentaries

Focus of Asset Allocation Shifts from Commodity to Equity amid the Structural Recovery of the Chinese Economy from Another Bottom-out

RRR Cut in H2 2022 Expected to Drive 10-year CGB Yield up Slightly to Around 2.9%

Growth Stabilization Policies Bolster the Ebbing Economic Recovery under Triple Pressure

Accelerating Issuance of Local Government Special Bonds under Cross-cyclical Adjustments, Forestall Risks in Front-loaded Spending under Growth Stabilization Policy

Yield of 10-year China Government Bond May Fluctuate with a Low of About 2.7% in 2022

Look for Structural Opportunities in Risk Assets amid Slowing Economic Recovery under Supply-Demand Imbalance

Yield of 10-year Government Bonds might Fluctuate Around 2.9%-3.0%

Local Government Special Bond Issuance Gained Pace amid Cross-cyclical Adjustments, Land Market Chill to Weigh on Local Public Finance

Pilot program for property tax reform has limited impact on rigid demand, but may adversely affect property sales