Investors in China’s state-backed banks have a lot to worry about: the dangers of default in a slowing economy, the threat of bank reforms and market-based competition and the growth of online money market funds to name but a few. This week the big four are likely to report their slowest profits growth in at least five years. So it is hardly surprising that China’s big banks have been caught in a bear hug. All four have underperformed the Hang Seng this year – for the past five years, in fact. There are few signs that bears are considering releasing their grip. But dividends announced this week will be worth watching.
中國國有銀行的投資者有很多需要擔心的事情：經濟增長放緩局面下的違約風險，銀行改革和市場化競爭的威脅，互聯網貨幣基金的發展壯大，等等?！八拇笮小北局艿哪陥蠛芸赡茱@示，2013年利潤增速降到了至少5年來的最低值。因此中國大銀行的股票陷入低迷并不令人意外?！八拇笮小惫善苯衲甑谋憩F均未跑贏恒生指數(Hang Seng Index)，事實上過去5年來都是如此。沒有多少跡象表明它們的股價可能會回升。不過，本周各家銀行公布的分紅數字將值得關注。