On January 6, Liu Jinjin, chief Chinese stock strategist at Goldman Sachs, and his team expressed the latest opinion that the trading situation in the Chinese stock market in 2024 has shown investors that the Chinese market should have a place in the investment portfolio, and the Chinese market is a better choice for diversifying asset allocation. The report points out that at present, both absolute and relative valuations of the Chinese stock market are at a low level, which reflects the relatively cautious attitude of investors. The overall increase in the Chinese stock market last year was mainly driven by a revaluation of the price-earnings ratio. The index's 12-month expected price-earnings ratio increased from 8.8 times at the beginning of 2024 to 10 times at the end of the year. Given the relatively optimistic policy expectations for 2025, the current valuation level is expected to expand further.

On January 6, Liu Jinjin, chief Chinese stock strategist at Goldman Sachs, and his team expressed the latest opinion that the trading situation in the Chinese stock market in 2024 has shown investors that the Chinese market should have a place in the investment portfolio, and the Chinese market is a better choice for diversifying asset allocation. The report points out that at present, both absolute and relative valuations of the Chinese stock market are at a low level, which reflects the relatively cautious attitude of investors. The overall increase in the Chinese stock market last year was mainly driven by a revaluation of the price-earnings ratio. The index's 12-month expected price-earnings ratio increased from 8.8 times at the beginning of 2024 to 10 times at the end of the year. Given the relatively optimistic policy expectations for 2025, the current valuation level is expected to expand further.