120730_50591_China Metals and Mining_F:Normal Cover 2011 7/30/2012 4:11 PM Page 1 Natural Resources & Energy China Equity July 2012 Simon Francis* Metals & Mining Head of Metals & Mining Research, Asia Pacific The Hongkong and Shanghai Banking Corporation Limited +852 2996 6620
[email protected] Simon Francis joined HSBC as Regional Sector Head of Metals & Mining in March 2012. He is a Chartered Accountant (UK ACA) with Metals & Mining a degree in mathematics from the University of London. Simon’s equity research experience in Asia spans almost 20 years, virtually all of it covering the Metals & Mining sector. He has lived in various countries in Asia and worked for various financial institutions. From 2003 to 2012, he was regional sector head at prominent securities firms in Hong Kong, achieving significant recognition in the Greenwich Asia, Greenwich Europe, and Greenwich US surveys. Back to reality – launching coverage in China, Taiwan and Mongolia Thomas Zhu* Analyst, Metals & Mining, Asia Pacific The Hongkong and Shanghai Banking Corporation Limited +852 2822 4325
[email protected] Thomas Zhu joined HSBC in March 2012 as Metals & Mining Analyst for the Asia-Pacific region. He holds a Master’s degree in Business from Tsinghua University, Beijing. Following completion of a rigorous graduate training programme at a global investment bank, Thomas worked with Simon Francis as a metals analyst from 2009 to 2012. Chris Chen* Analyst, Metals & Mining, Asia Pacific The Hongkong and Shanghai Banking Corporation Limited +852 2822 4277 China Equity
[email protected] We forecast a return to normalized demand growth and prices.