Hwabao WP CSI Banks ETF

Agricultural Bank of China Issues 30 Billion RMB Total Loss Absorbing Capacity Non-Capital Bonds

Bank Wealth Management Subsidiaries Accelerate Equity Market Entry, Highlighting IPO and Net Subscription Performance

ICBC and ABC lead 2025 dividend payouts, totaling over 87 billion yuan

Shanghai Gold Exchange Absorbs ICBC as International Member

Agricultural Bank of China Successfully Issues 30 Billion Yuan TLAC Bonds in Second Tranche of 2026

ICBC Deploys 'Zhidaitong' AI Agent Matrix to Solve Financing Difficulties in Xinjiang Cotton Region

Bank of Communications Issues 50 Billion CNY Total Loss-Absorbing Capacity Non-Capital Bonds

National Energy Group and Agricultural Bank of China Deepen Strategic Cooperation to Promote Integration of Energy and Finance

ICBC Adjusts Risk Level of Gold Accumulation Business

CMB Appoints Wang Xiaoqing as New President

Rongchang Biotech Purchases Multiple Wealth Management Products from SPDB Yantai Branch

Agricultural Bank of China Issues RMB 35 billion Subordinated Bonds

Bank Wealth Management Subsidiaries Actively Participate in IPOs

ICBC Launches 'GYXY' Fund Sales Service Brand

ICBC Adjusts Risk Grades for 如意金积存 Business

Ping An Asset Management Increases Holdings in Agricultural Bank to 28.03%

Heze Intermediate People's Court Announces Verdict in Xu Xilong Bribery Case

Minsheng Bank's Net Interest Margin Stabilizes, Revenue Grows but Net Profit Drops Sharply

Agricultural Bank Successfully Issued 35 Billion Yuan of Additional Tier 2 Capital Bonds

STAN

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Standard Chartered plans to hire more relationship managers in Singapore while cutting over 15% of its global corporate function headcount by 2030, resulting in more than 7,000 job losses. The bank aims to enhance productivity through AI and automation. Despite the cuts, it remains committed to business growth in Singapore and ASEAN, aligning with government workforce transformation plans. The bank also targets a lower cost-to-income ratio and aims to increase its return on tangible equity to over 15% by 2030.

Businesstimes News

Standard Chartered PLC

STANCHART

China Southern CSI Banks ETF

WP CSI Banks ETF

Huaan CSI Banks ETF

ChinaAMC CSI Banks ETF

OCBC Bank

United Overseas Bank (UOB)

StanChart Singapore to hire more wealth bankers amid global cuts; impact on other roles still unclear

HSBC

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Several brokers have raised their RMB forecasts, citing China's export competitiveness and stable US trade relations. HSBC increased its year-end forecast to 6.65 per USD, while Deutsche Bank raised theirs to 6.55. Goldman Sachs predicts USD/CNY will reach 6.5 within 12 months, up from previous estimates, supported by China's trade surplus and strong exports.

- Several brokers have raised their forecasts for the RMB due to China's export competitiveness and stable trade relations with the US.  
- As of May 19, the RMB appreciated approximately 2.6% against the USD, prompting HSBC and Deutsche Bank to increase their year-end predictions to 6.65 and 6.55 per USD, respectively, citing strong exports and domestic demand recovery.  
- Goldman Sachs also anticipates continued appreciation, adjusting its forecasts for USD/CNY to 6.8, 6.7, and 6.5 over the next twelve months, supported by China's significant trade surplus.

AASTOCKS News

GOLDMAN SACHS GROUP INC DEP SHS REPSTG 1/1000TH PRF SER C

GOLDMAN SACHS GROUP INC DEP REP 1/1000TH PRF D

Deutsche Bank AG

HSBC Holdings Plc

GOLDMAN SACHS GROUP INC DEP SHR REP 1/1000TH PFD SER A

HSBC HOLDINGS

Goldman Sachs

HSBC Holdings plc ADRhedged

A CAM RMB MM

Fullgoal CSI 800 Banks ETF

China Merchants CSI BANK AH Price ETF

ChinaAMC SSE Financials Sector ETF Initiating Fund

HSBC 5xShortSG241213

Deutsche Bank AG Subscription Rights

Deutsche Postbank AG

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Brokers Raise RMB Forecasts; G Sachs Expects USD/CNY at 6.5 within 12 Mths

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HSBC Research has lowered expectations for rate cuts in 2026 following the People's Bank of China's recent monetary policy report. The report suggests a high likelihood of net interest income expansion for Chinese banks, particularly ICBC, CCB, and Bank of China H shares. The research indicates that corporate banking is outperforming retail, with positive growth in corporate loans. Additionally, banks are advised to limit high-interest interbank time deposits to reduce competition and funding costs.

Bank Of China

Bank of China

BANK OF CHINA

China Construction Bank

ICBC

INDUSTRIAL & COMMERCIAL BK OF CHINA UNSP ADR EACH REPR 20 ORD SHS

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Bank Of Communications

MINSHENG BANK

CMBC

CITIC BANK

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CEB BANK

CEB Bank

China Merchants Bank

CM BANK

BOC HONG KONG

HSBC Research Lowers Rate Cut Expectations Within Year; CN Banks' Net Interest Income Seen Expanding; Prefers ICBC, CCB and BANK OF CHINA H Shrs

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Bank of Communications Co., Ltd. has issued RMB50 billion in Total Loss-Absorbing Capacity Non-Capital Bonds to enhance its capital structure and regulatory compliance. The four-year bonds, with a 1.75% coupon, aim to strengthen the bank's resilience in stress scenarios. The latest analyst rating for the stock (HK:3328) is a Buy with a price target of HK$7.75.

Tip Ranks

Bank of Communications Boosts Loss-Absorbing Capacity With RMB50 Billion TLAC Bond

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UBS reported that April's new RMB loans and Aggregate Financing to the Real Economy fell short of expectations, with loans contracting by RMB10 billion. Despite record bill financing, overall loan growth slowed to 5.6% YoY. UBS remains positive on Chinese banks, predicting a turning point in 2026 for net interest income and revenue. Their top picks include BANK OF CHINA, CCB, ICBC, and CITIC BANK, all rated Buy with attractive valuations and high dividend yields.

UBS Group AG

UBS: CN Apr New RMB Loans, TSF Both Miss; Top Picks BANK OF CHINA/ CCB/ ICBC/ CITIC BANK

JPM's report highlights that China's April credit data fell significantly short of expectations, with Aggregate Financing at RMB620 billion and new RMB loans decreasing by RMB10 billion. The largest recorded monthly declines in household and corporate loans were noted. The bank recommends a defensive strategy favoring the Big Four state-owned banks due to their stronger loan pipelines, while indicating deteriorating retail loan demand and a widening gap between M1 and M2 growth.

JPMorgan Chase

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

JPM: China Apr Credit Data Far Below Expectations, Favor Big Four State-owned Banks for Defensive Positioning

Yesterday, Bank of China’s stock price rose moderately by 1.34%, closing at HKD 5.29, with an intraday high of HKD 5.33, fluctuating within a narrow range of HKD 5.23 to HKD 5.33 throughout the day. The MACD daily line confirmed a golden cross above the zero axis, indicating that medium-term bullish momentum is accumulating, and buying power is steadily recovering. The trading volume was approximately HKD 1.308 billion, which is considered a normal high level for the stock recently, with good capital participation. The overall trend exhibits a characteristic "slow bull" rhythm typical of large bank stocks, with a healthy combination of volume and price. On the news front, the Ministry of Commerce stated on May 14 that the total value of China’s goods trade imports and exports increased by 14.9% year-on-year in the first four months of 2026, indicating a continued improvement in the fundamentals of foreign trade, which indirectly benefits the asset quality and credit issuance of banks. Meanwhile, the new chairman of the Federal Reserve, Jerome Powell, is facing inflationary pressures, and the market expects U.S. Treasury yields to remain high for an extended period, supporting the interest margin logic for Chinese bank stocks in the China-U.S. interest rate differential environment. The Hong Kong stock bank sector has recently stabilized overall, with active trading in China Construction Bank and Industrial and Commercial Bank of China on the same day, showing a clear sector linkage effect. As a representative of high-dividend assets, Bank of China continues to attract allocation funds in the current macro environment. From a technical perspective, Bank of China is currently holding above HKD 5.22 (the closing price yesterday), with the 5-day moving average turning upwards, and short-term support in the range of HKD 5.20-5.22. If it can break through the recent high of HKD 5.33 with increased volume, it is expected to open up further upward space

Technical Forecast

Pre-market trend | Bank of China (3988.HK) steadily rises on 5/14, are bank stocks gearing up for another step up?

Jefferies has maintained a Buy rating on China Construction Bank (CICHF) with a price target of HK$10.60, while the shares closed at HK$8.87. The analyst consensus suggests a Strong Buy rating with an average price target of HK$10.26, indicating a potential upside of 15.63%. Additionally, DBS reiterated a Buy rating with a price target of HK$10.20 in a report from April 30.

Jefferies Financial

Jefferies Remains a Buy on China Construction Bank (CICHF)

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Jefferies analyst maintained a Hold rating on China Minsheng Banking yesterday and set a price target of HK$4.10. The company’s shares closed last Tuesday at HK$3.62.Claim 55% Off TipRanksUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks China Minsheng Banking has an analyst consensus of Hold, with a price target consensus of HK$4.31.

Jefferies Sticks to Their Hold Rating for China Minsheng Banking (CGMBF)

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Jefferies forecasts steady earnings improvement for mainland China's banking sector in 2026, driven by a mild macroeconomic recovery and low policy volatility. The report anticipates a slowdown in NIM narrowing, supporting net interest income growth, with pre-provision operating profit expected to recover fully. The broker favors BANK OF CHINA and BANK OF NINGBO, both rated Buy, and highlights selective attractiveness in the sector due to capital inflows and improving earnings visibility. Ratings and target prices for various banks are also provided in the report.

Bank of Ningbo

PSBC

Jefferies: Mainland Banks to See Steady Improvement This Year, Favors BANK OF CHINA  and BANK OF NINGBO

Hwabao WP CSI Banks ETF(512800.SH)

StanChart Singapore to hire more wealth bankers amid global cuts; impact on other roles still unclear

Brokers Raise RMB Forecasts; G Sachs Expects USD/CNY at 6.5 within 12 Mths

HSBC Research Lowers Rate Cut Expectations Within Year; CN Banks' Net Interest Income Seen Expanding; Prefers ICBC, CCB and BANK OF CHINA H Shrs

Bank of Communications Boosts Loss-Absorbing Capacity With RMB50 Billion TLAC Bond

UBS: CN Apr New RMB Loans, TSF Both Miss; Top Picks BANK OF CHINA/ CCB/ ICBC/ CITIC BANK