Goldman Sachs has identified Chinese healthcare stocks as a growth opportunity beyond the artificial intelligence sector. According to the bank, Chinese corporate earnings grew 24% in the second quarter, their highest pace in five years, up from just 6% in the first quarter. The pharmaceutical sector represents one-third of the 12 selected names, including Innovent Biologics, BeOne Medicines, CSPC and Hansoh Pharma, with earnings growth forecasts ranging from 15% to over 100%. Goldman expects MSCI China earnings to grow 8% this year, well below the consensus of 17%.
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