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Reference News Network reported on July 25. According to a report on the website of Bloomberg News on July 24, Sean Snyder, head of investment strategy at Citibank Group’s US wealth management company, said in a podcast: “We like Chinese assets.
We actually added some more holdings there. We think their financial situation is different from ours. Economic activity in the country has actually started to rebound after bottoming out in May. "
On April 29, 2022, workers work at the construction site of the Wuliping Bridge on the Xu-Bi Railway in Bijie City, Guizhou Province. (Published by Xinhua News Agency)
Snyder said his bullish view is more based on the macro backdrop, "We think the Chinese economy is bottoming out, and we're seeing extremely low valuations there."
Snyder said the expectation that the credit pulse will pick up is the basis for his belief that China's economy may be on the mend. "When you see the credit pulse pick up and the government maintains stimulus, usually the economy responds," he said.
Therefore, we believe that China's economy will continue to grow. China's economic activity, especially its gross domestic product (GDP), is on an upward trend. "
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