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JPM: CN Aug Credit Data Misses; Top Picks BANK OF CHINA, CCB
2026-09-15 10:49:03
China's credit data for August came in below expectations, JPMorgan wrote in a research report. China's Aggregate Financing to the Real Economy (Flow) in August amounted to RMB1.66 trillion, below the broker's forecast of RMB2.27 trillion and market expectations of RMB2.12 trillion; new RMB loans were only RMB60 billion, also markedly below expectations.

Against the backdrop of stronger corporate activity, the broker preferred state-owned banks with stronger corporate banking advantages. Its top sector picks were BANK OF CHINA (03988.HK) and CCB (00939.HK), both rated Overweight, with target prices of HKD6.7 and HKD11.05 respectively.
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AASTOCKS Financial News
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