China Macro Monitor – Underway to recover
Improved independence with a recovered central SOE as parentco; Upgrade to BUY
New orders slightly recovered in 2Q23
China Catering Sector: Customer traffic recovering; to drive margins in FY23
Recovering cross-border medical consumption in FY24
China Policy – New loans picked up as service economy continued to recover
China Economy: On its way to recover
China Economy – PMI beat expectations as economy continues to recover
China Policy:New loans picked up as service economy continued to recover
China Economy – On its way to recover