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China in 2H21: growth momentum under pressure, value rotation thesis weaker, foreign investor participation up

2H21 will not be smooth sailing for China’s economy, which may struggle to meet Beijing’s growth expectation. The declining growth momentum may weaken the argument of a growth-to-value rotation in the onshore equity market. On the other hand, foreign investors’ participation rate in China’s market looks set to rise, on the back of an extensive RMB rally and favourable national…

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