AN INTERNATIONAL COMPARATIVE STUDY ON THE INVETDSMENT VALUE OF LISTED BANKS IN CHINA

ABSTRACT: As China’s financial market continues to deepen its openness to the outside world, the banking industry, as the core pillar of the financial system, has not only attracted extensive attention from domestic investors, but also increasingly become an important target in global asset allocation. This paper takes the investment value of listed banks in China and listed banks in major international economies as the research object, constructs a multidimensional comparative analysis framework from five dimensions: valuation level, profit characteristics, asset quality, risk resistance and dividend return. Combining with the macro background of global banking development, the paper systematically compares the investment value differences of listed banks in China and the United States, European developed economies and some emerging market countries, and deeply analyzes the institutional background, market environment and business model reasons for the differences. The study found that the listed banks in China are currently in a low-value and high-dividend value depression, with stronger earnings growth resilience than their counterparts in developed economies and controllable asset quality as a whole, but the market has excessive bias in pricing systemic risks; From the perspective of international comparison, the core operating indicators of the head-listed banks in China have reached the international advanced level, the investment value is significantly underestimated, and they have high medium and long-term allocation value. Finally, this paper puts forward specific suggestions for domestic and foreign investors to optimize the investment strategy of bank shares and regulators to improve the capital market pricing mechanism.