1. Bright stars over China
Bank of China’s net profit surged almost 70% in the fourth quarter of 2020 compared with the same period the previous year, while the Agriculture Bank of China’s net profit rose 61%. Last week the Industrial & Commercial Bank of China and China Construction Bank posted better-than-expected net profits. Some analysts expect China’s banking sector to outperform in 2021, in an environment that’s likely to be easier than last year’s, reports The Economist...
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