汇丰银行-中国-投资策略-中国多种资产：狗年大吉-2018.2-46页

Disclaimer&Disclosures:ThisreportmustbereadwiththedisclosuresandtheanalystcertificationsintheDisclosureappendix,andwiththeDisclaimer,whichformspartofithttps://www.research.hsbc.comPlaythevideoChinamulti-assetspecialWelcometotheYearoftheDogChina’seconomylookssetforanothergoodyearWeexpecttoseesolidgrowth,benigninflation,andastrongerRMBThisreportsummarisestheviewsofourmacroteams,equityanalystsandstrategistsMULTI-ASSETCHINAFebruary2018By:WilliamBrattonandDilipShahanihttps://www.research.hsbc.com/R/20/KXVhF77????1MULTI-ASSET●CHINAFebruary2018AsweheadintotheYearoftheDog,weofferclientsamulti-assetsummaryofourviewsonChina.Itincludesthethoughtsofourmacroteamsontheeconomy,FX,rates,credit,andclimatechange,aswellas2018outlookpiecesandthematicreportsbyequityanalystsandstrategists.And,forthefirsttime,weincludethe