Recently, many international investment institutions, including Morgan Stanley and Goldman Sachs, have been "bullish" on China's stock market, and many institutions have taken out "real gold and silver" to buy more Chinese assets. Experts said that with the implementation of a series of stable growth measures in China and the accelerated optimization of epidemic prevention and control measures, the expectation of China's economic stabilization and rebound has become clearer, attracting international institutions to re-examine the allocation value of China's assets. In the future, under the background of China's in-depth promotion of high-level institutional opening up of the capital market, the "buy buy" efforts of international institutions are worth looking forward to. Institutions raised their expectations Recently, many overseas investment institutions have increased their allocation to China's stock market. On December 4, Morgan Stanley raised China's stock market from "standard allocation" to "over allocation". It is estimated that MSCI China Index will rise by 14% by the end of 2023. Wang Ying, chief equity strategist of Morgan Stanley China, said that the evaluation framework showed that the risk premium of stocks might be improved due to the continuous optimization of China's epidemic prevention and control measures, the stabilization of the real estate market, and the regulatory adjustment entering the final stage. Therefore, the target price of the entire Chinese market was raised, and there would be greater opportunities for revaluation by 2023. Coincidentally, on November 30, Goldman Sachs also said that it would also give a "high allocation" proposal for A-share investment in 2023, and expected that A-share valuation would rise significantly. Liu Jinjin, chief China stock strategist of Goldman Sachs, said that he was optimistic about the performance of Chinese stocks listed at home and abroad under the expectation that macro-control efforts would increase and GDP growth would rise. The strategy team of Bank of America believes that China's domestic stocks will rise due to the excess savings of Chinese residents and the continuous optimization of epidemic prevention policies. Rui Dalio, founder of Bridgewater Fund, believes that at present, some valuable assets can be found in the Chinese market. China is the second largest economy in the world, and investors can improve their diversified investment by investing in China. The support of international institutions is not groundless. Recently, China's ETFs, Chinese stocks and offshore RMB exchange rates listed overseas have all witnessed a steady rise, enhancing the confidence of foreign institutions to invest in China. For example, since November, the net value of iShares MSCI China ETFs with a scale of more than US $7 billion has risen by more than 30%; The NASDAQ Golden Dragon China Index rose by more than 40% in November, the largest monthly increase since records began in 2003; The RMB exchange rate has also risen strongly recently. In the morning of December 5, the offshore RMB exchange rate against the US dollar rose to 6.9813, a new high since mid September. "At present, some major economies continue to tighten monetary policies, with increased risks of economic recession and reduced expectations of market returns. In contrast, China's economic development is stable and investment logic is clear." Li Zhan, chief economist of China Merchants Fund Research Department, analyzed that China's economy is changing from high-speed growth to high-quality development, and there are a lot of investment opportunities in the process of industrial upgrading and consumption upgrading in various industries. At the same time, China recovered quickly from the impact of the epidemic, its economy rebounded significantly in the third quarter, and its position in the global industrial chain was rising. In addition, China's financial opening to the outside world continued to advance, and the channels for foreign capital to participate in the domestic financial market
Edit：He Chuanning Responsible editor：Su Suiyue
Source：Economy Daily
Special statement: if the pictures and texts reproduced or quoted on this site infringe your legitimate rights and interests, please contact this site, and this site will correct and delete them in time. For copyright issues and website cooperation, please contact through outlook new era email：lwxsd@liaowanghn.com
Economy
Recommended Reading Change it 
Home
