situation has undergone important changes
7, with China’s economy increasingly exposed and the internal contradictions of China’s economy, the thorough transformation the profitability of listed companies and a corresponding is degressive. Late last year the domestic institutions this year generally optimistic about the a-share market this year, is China’s economic hold up well, listed companies’ profit ability increases as precondition, now, the situation has undergone important changes. Domestic institutions listed company earnings growth for this MBT Unono year’s forecast by 25% level has been cut to 15%, the entire market dynamic price-earnings ratios will subsequently and up not down. At present the whole market bank share valuations minimum, but these valuations minimum stock but there was a sharp drop in the trend, the basic reason is that: the development of China banking has entered into downward cycle. As China’s economy enters a transformation, banking on the development model already spreads earnings come to an end; Liquidity can lead to excessive release too much bad debt soared, it will to a large extent the development space; restrict banking Bank loans are scale and total amount the limitations in deposits increased cases can seriously affect the profitability of MBT Voi companies; Along with the development of the reform of economic system, resource allocation mechanism in Banks as the resource allocation from the main channel of the main mechanism with gradually to the capital market shift will also impact of banking industry. All of these will largely change the whole banking ways of development and operation mechanism of banking, that makes the market valuations of comprehensive and profound view must make the readjust.
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