Chinese banks are cheap. This is a truth universally acknowledged. But it is also well known that there are good reasons for them to command a low multiple. China’s economy is slowing down; the property and credit cycles are both reaching the point where a true bust looks possible; corporate governance is horrible and involves placing blind faith in China’s Communist party.
manbetx3.0 银行股很便宜，这是一个举世公认的事实。但同样众所周知的是，这些股票的估值倍数低是有充足理由的。manbetx3.0 manbetx20客户端下载 增长正在放缓；房地产周期和信贷周期都在接近一个临界点，届时可能发生真正意义上的崩盘；公司治理一塌糊涂，并且涉及要对中共抱以盲信。
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