6 July 2025 | 10:07PM HKT China Strategy Orchestrating Returns in China's Cash Symphony Record-high cash returns poised for further growth Fueled by strong policy push following the release of "Nine Measures" in April 2024, coupled with a history of conservative cash return practices, robust cash flows, and substantial cash reserves, Chinese listed companies delivered unprecedented cash returns to shareholders in 2024. Looking ahead, we expect aggregate dividends/buybacks to reach Rmb3.0tn/0.6tn (+10%/+35% ...

JPMorgan analyst Michael W. Mueller announced several ratings changes during the firm’s quarterly CRE update webinar.The analyst upgraded Ventas Inc. VTR from Neutral to Overweight and raised the firm’s December 2025 price target to $72 from $70.Mueller cited robust internal and external growth, including double-digit same-store net operating income gains and a steady pace of acquisitions, as key drivers supporting a positive outlook for normalized FFO per share growth.The analyst noted that compared to pee ...