Recently, UBS Asset Management released its 2026 investment outlook. Shi Bin, head of Chinese equities at UBS Asset Management, mentioned that Chinese stock valuations are still attractive, and global investors, including long-term funds and hedge funds, are actively participating in the cornerstone investment and secondary market transactions of Chinese stocks. Currently, most foreign investors choose to enter the Chinese market through ETFs, which means that currently the market is still in the “technical repair” stage. To achieve a continuous return of capital, investors still need to see signs of continued progress in structural reforms and sustainable growth. “The valuation of Chinese stocks is far from being 'overheated', and the next stage of market trends will be driven by fundamentals.” He pointed out that the “15th Five-Year Plan” sends a signal of transformation from “quantitative expansion” to “sustainable and innovation-driven growth.” The main line of high-quality growth is expected to become a key force in industry sector rotation and valuation changes in the next 12 months. Against the backdrop of continuous improvement in fundamentals, the innovation sector will continue to grow steadily. At the same time, high dividend value will go hand in hand with innovative growth. High-dividend stocks are still attractive in China's low interest rate environment, with some leading dividend ratios exceeding 5%.

Recently, UBS Asset Management released its 2026 investment outlook. Shi Bin, head of Chinese equities at UBS Asset Management, mentioned that Chinese stock valuations are still attractive, and global investors, including long-term funds and hedge funds, are actively participating in the cornerstone investment and secondary market transactions of Chinese stocks. Currently, most foreign investors choose to enter the Chinese market through ETFs, which means that currently the market is still in the “technical repair” stage. To achieve a continuous return of capital, investors still need to see signs of continued progress in structural reforms and sustainable growth. “The valuation of Chinese stocks is far from being 'overheated', and the next stage of market trends will be driven by fundamentals.” He pointed out that the “15th Five-Year Plan” sends a signal of transformation from “quantitative expansion” to “sustainable and innovation-driven growth.” The main line of high-quality growth is expected to become a key force in industry sector rotation and valuation changes in the next 12 months. Against the backdrop of continuous improvement in fundamentals, the innovation sector will continue to grow steadily. At the same time, high dividend value will go hand in hand with innovative growth. High-dividend stocks are still attractive in China's low interest rate environment, with some leading dividend ratios exceeding 5%.