德意志银行-xx银行业-chinese banks：initial read from national financial working conference-20170716-deutsche bank.pdfVIP

Deutsche Bank Markets Research Asia Industry Date China Chinese banks 16 July 2017 Banking / Finance Banks Breaking News Hans Fan, CFA Jacky Zuo Initial read from National Financial Research Analyst Research Associate (+852 ) 2203 6353 (+852 ) 2203 6255 Working Conference hans.fan@ jacky.zuo@ Key change: To set up a new committee to strengthen regulatory coordination Stephen Andrews, CFA China held its fifth National Financial Working Conference on 14-15 July. This Research Analyst conference emphasized the financial sector supporting the real economy, (+852 ) - 2203 6191 strengthening regulatory oversight and preventing systemic financial risks (Fig. stephen-a.andrews@ 1). The most important change was to set up a new, higher-level committee to strengthen regulatory coordination. This should help reduce regulatory Top picks arbitrage and hence lower systemic risks over the long run. In the near term the government implied it would maintain a tight liquidity balance, i.e. it is ICBC (1398.HK),HKD5.27 Buy unlikely to further tighten or loosen. We view big banks as key beneficiaries of