Citi believes that the strength of China Mainland Banking is unlikely to end in the short term, and Banks may continue to be viewed as a "safe haven."
According to Smart Financial APP, Citic Securities released a research report stating that for China Mainland Banking, its strong performance may not end in the short term, and Banks may continue to be seen as a "safe harbor." Last month, related entities of Ping An Group frequently increased their shareholding in China Mainland Banking, with Ping An Asset Management increasing its shareholding in Industrial And Commercial Bank Of China (01398) Listed in Hong Kong to 17.11% on the 31st of last month, while Ping An Insurance (02318) also increased its shareholding in ICBC Listed in Hong Kong and Postal Savings Bank Of China (01658) Listed in Hong Kong to 15.11% and 5% on the 20th and 27th of last month, respectively.
