China companies set for biggest earnings growth in 5 years in 2023: Part 3
E-commerce company $JD.com(JD.US$ and technologyinfrastructure and marketing platforms provider $Alibaba(BABA.US$ are expected to report profit growth of 28.8% and 18.3%,respectively.
Profits of tech giant $Tencent(TCEHY.US$ are expected to rise about 19% this year after a slump in 2022. China's video game regulator lifted many curbs for the industry and granted multiple publishing licenses to Tencent's games for domestic release last month.
"We expect China to outperform Asia ex-Japan due to its faster-than-anticipated reopening, continuing domestic policy support, and potential for stronger earnings growth," said Mark Haefele, chief investment officer at UBS Global Wealth Management, in a note this month.
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