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 the Zhito Finance APP, Citic Securities has released a research report stating that for China Mainland Banking stocks, their strong performance may not end in the short term, and banks may continue to be regarded as a "safe haven." Last month, related entities of Ping An Group repeatedly increased their shareholding in China Mainland Banking stocks, among which Ping An Asset Management increased its stake in Industrial And Commercial Bank Of China (01398) Listed in Hong Kong to 17.11% on the 31st of last month, and Ping An Insurance (02318) also increased its holdings in both ICBC's Listed in Hong Kong and Postal Savings Bank Of China (01658) to 15.11% and 5% respectively on the 20th and 27th of last month.
