Francois Cristofari becomes chairman of BNP Paribas' China business, while Clarence Tao takes over his previous job as CEO.
Lillian Liu
Small-scale Chinese consumer plays will remain resilient and outperform the broader market in the coming months or years, the US bank believes.
The country's output may decrease to as low as 7.5% in the first quarter next year, but this is a more sustainable level of growth, say China observers.
China’s banking sector will have a higher non-performing loan ratio in coming years, but good profitability, strong liquidity and adequate capitalisation will enable the major lenders to absorb unexpected credit losses.