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雷达卡
As many local investors are getting bearish and cautious about A shs recently, it is worthwhile to take a look what those bulls (mainly foreigners) think about our economy and stock market .
Attachment is MS Stratergy for you inferrence.
Near-term caution: Inflation rules investors’ minds.
Risk of sustained and high inflation constitutes the key
challenge to the economic outlook in the near term.
Potential social and political instability and policy
missteps are considered the primary risk to the
medium-term economic outlook. Consumer brands and
channels are more confident in inflation environment
than manufacturers. General caution on banks’
vulnerability in the near term. Most clients agree that a
temporary market de-rating is likely when high inflation
is tackled by price regulation.
Long-term optimism: China is able to sustain strong
growth (i.e., real GDP growth of 8% per annum) over the
medium term, underpinned by continuation of economic
reform, industrialization, and urbanization, as well as a
favorable demographic profile. Clients are expecting
10-15% 10-year CAGR in MSCI China ($ nominal) and
10-20% sustainable valuation premium over S&P 500.
Entrepreneurship is seen by investors as much more
important an alpha generator in the long term than
government policy....
222017.pdf
(2.77 MB, 需要: 10 个论坛币)
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