From emerging growth plays in the Chinese telecom and agriculture sectors to optimistic domestic plays among the country’s beaten-down financial players, the themes of The Wall Street Transcript‘s top quotes this week are a summary of global and domestic market dynamics.
“At 60%, China still has a lot of growth potential, but probably the strongest growth will be driven by the urbanization initiative in Central and West China, where there is penetration-rate increase potential and consumption upgrade as the driving forces for future growth. And then for the urban market, it’s pretty much new technology, like wireless data revenue growth, that will give an uplift of telco top-line and bottom-line growth.” — Cynthia Meng, Bank of America Merrill Lynch (Asia Pacific) Ltd.
“As China is the largest consumer and producer of fertilizer in the world, we have experienced tremendous growth in the past several years. And because China has over 20% of world’s population while less than 7% of the world’s arable land, we expect robust demand for organic and inorganic fertilizers to continue for many more years.” — Ken Ren, China Green Agriculture, Inc.
“For companies that have comfortable capital ratios, the hurdle is to effectively deploy excess liquidity into higher-yielding assets, especially at a time when loan demand appears weak. I think you have to continue to look closely at asset quality, especially in areas of the country where there was much construction and land development lending.” — Rick Weiss, Janney Montgomery Scott LLC
“So the differences between us and others are in the numbers. It’s not a matter of one’s perception of an accounting rule or a debt; it is the actual disposition of the assets. When you think about it, there is no mystery. If the assets sell for more than we have invested in the asset, we’re not losing money. That is by far the most overtly obvious statement about the quality of our lending.” — Joseph R. Ficalora, New York Community Bancorp
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