【招银国际】China Economy: Weak exports support further policy easing.pdf

China Economy Confidence remained weak amid property slump and deflation

–1H23 weakness in-line; Maintain HOLD on fair valuation

–1H23 weakness in-line; Lower TP on slower demand recovery

China Economy Weak credit demand calls for easing policy

China Technology Sector–Apple FY4Q23 beat on margins, resilient China iPhone sales, weak outlook for iPad／Wearablese

China’s Economy-HSBC PMI Rebounds, Economy Continues Pattern of Weak Stability：June HSBC Flash PMI Commentary

China Macro Monitor – Growth momentum remained weak

Weak PMIs confirm downside pressure for growth

Proxy of China’s consumption-led recovery; buying into any weakness for the next recovery wave

Growth slows sharply as confidence remains weak