Deutsche Bank - China Strategy Spotlight

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        Deutsche Bank 11月30日报告，64页。
        What we are communicating to investors：EPS outlook，PPP and SZSC（p2-33）We expect 4Q16 growth to stay elevated，thanks to an extended sequentialmomentum and a depressed comparison base.We expect -0.9% growth forMSCI China in 2016，visibly higher than current consensus of -9.3%；we seeupgrades ahead.Look into 2017，we upgrade our top-down earnings growthforecast to 8% from 5.7%，as non-financials could rebound to 11.3% on theback of stronger sales and a higher profit margin，and financials are likely toexpand to 5%，thanks to a steepening yield curve. 20161201-DEUTSCHE_BANK-CHINA_STRATEGY_SPOTLIGHT：READYING_FOR_EARNINGS_UPGRADES_.pdf (3.41 MB, 需要: 5 个论坛币)

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关键词：Spotlight Deutsche Strategy Strateg Deutsch China