【招银国际】China Economy:Mild Reflation after Reopening.pdf

China Economy: Deflation mildly alleviated while consumer demand remained weak

Earnings outlook to mildly improve

China Economy–Deflation bottomed with possible mild reflation

China Property Sector – Mildly positive for CSRC’s pilot private investment scheme in real estate

China Economy – Mild Reflation after Reopening

China Economy–In a mild recovery cycle

【Company Research】China Property Sector–Mildly positive if the government relaxes pre

China Property Sector：NBS Sep data： gloomy as expected, no strong rebound, only mild recovery in 4Q in our view

Expect a year of mild recovery in FY23

Moving into mild recovery in 2H23E