Citi has identified three U.S.-traded Chinese stocks that are positioned to benefit from Beijing's recently announced economic stimulus program.
The Chinese government's efforts have already shown a significant impact, with Chinese internet stocks experiencing substantial gains last week.
Despite these impressive gains, Citi analysts believe the market has not fully priced in the potential for improved macroeconomic conditions and earnings growth.
The three stocks are also traded in the U.S. Tencent The technology conglomerate and owner of WeChat stands to benefit from multiple aspects of the stimulus program, according to Citi.
Meituan Meituan , a Chinese shopping platform, is also poised to benefit from increased consumer spending, particularly in areas such as food delivery and local services, Citi said.
Persons:
Alicia Yap, Tencent, Meituan, — CNBC's Michael Bloom
Organizations:
Citi, Trip.com
Locations:
Beijing's, China, U.S, Tencent, Weibo, Golden