Experts

Annisa Lee

Head of Credit Research, Asia Pacific

Ms. Lee is an executive vice president in the Singapore office and head of Asia-Pacific credit research. Prior to joining PIMCO in 2019, she spent 15 years with Lehman Brothers and (following its acquisition) Nomura as a sell-side analyst, most recently as the team head of Asia ex Japan flow credit analysis. Earlier in her career, she worked at Bank of East Asia, Chase Manhattan Bank, and ING Bank in various credit research functions. She has 27 years of investment experience and holds an MBA from the Chinese University of Hong Kong (CUHK). She received an undergraduate degree from the University of Hong Kong (HKU).

Economic and Market Commentary

Local Government Financing Vehicles: A Growing Risk for China’s Economy?

01/09/2023

We believe idiosyncratic credit events may occur over the next 12 months, but systemic bank risk is remote.

Alex Zhou, Annisa Lee

Economic and Market Commentary

China’s Mortgage Boycott: Could Property Sector Cracks Lead to Systemic Risk?

08/08/2022

Our stress tests show the Chinese banking sector as a whole can absorb shocks from a severe downside scenario, but mid-sized banks and contagion pose potential risks.

Alex Zhou, Annisa Lee

Economic and Market Commentary

Chinese Financials Feeling the Squeeze Amid Sluggish Credit Demand

17/06/2022

Following strong double-digit profit growth in FY2021, we expect Chinese banks will be less profitable this year as COVID-19 lockdowns continue to disrupt China’s economy.

Alex Zhou, Annisa Lee

Blog

China’s Property Sector Slump: Is Recovery on the Horizon?

05/05/2022

In the absence of immediate and substantive policy easing at the national level, we believe that the sector could pose a serious risk to the government’s GDP growth target in 2022.

Annisa Lee