中国消费板块_亚太聚焦_中国必需消费品有多稳定_增长放缓但股东回报改善

更多资料加入知识星球：水木调研纪要 关注公众号：水木Alpha ab 4 June 2025 Global Research China Consumer Sector APAC Focus: How stable is China staples? Slower growth but improving shareholder return As China consumption slows, one key debate is whether staples stocks are still a must in portfolio allocation. Now that MSCI China staples has derated from the historical average of 21x 12m forward PE to 18x currently, we think a slower growth outlook is already in the price, but what could be missing is China staples' improving sharehol ...