THIRD TEAM

Jun Ma  Deutsche Bank

Previously unranked Jun Ma of Deutsche Bank finishes third; he is also No. 1 in Economics, for a second consecutive year. In September, Ma published “China’s Manufacturing Upgrade,” a report explaining why he believed that growth within China’s industrials sector would shift away from labor-intensive subsectors and toward equipment manufacturing, as companies seek to lower labor costs by automating processes. “We believe the equity market has yet to price in the potential outperformance of the equipment sector over the rest of the manufacturing industry,” he wrote. Among the stocks he recommended were Beijing’s China National Materials Co. and Zhengzhou Coal Industry & Electric Power of Henan province, which advanced 27.5 and 10.2 percent, respectively, through April. During the same period the sector gained 2 percent.