PBOC Granted Rmb163bn of MLF in February China Dairy Sector TheHouseView Special – Searching for liquidity Surprise special dividend Core results in line with our expectations, Supramax segment did well; outlook still challenging but priced in Lift PT to HK$47 on better acoustics content;Stay UW on margin downside China Life becomes the largest shareholder of China Guangfa Bank Solid balance sheet to fund future growth Meeting already low expectations Tumi reports incremental weaker sales for US in 4Q15