According to the CICC research report, Chinese stocks continue to benefit from the wave of AI technology and abundant liquidity, and their current valuations are reasonable, and they have yet to see signs of a top bull market. Therefore, they are firmly optimistic about the revaluation of Chinese assets and maintain overallocation of Chinese stocks. Stylistically, since the steady growth policy is relatively moderate, the market style may still be dominated by technological growth in the short term, and the cycle and value style changes still need to wait for more clear economic or policy signals.

According to the CICC research report, Chinese stocks continue to benefit from the wave of AI technology and abundant liquidity, and their current valuations are reasonable, and they have yet to see signs of a top bull market. Therefore, they are firmly optimistic about the revaluation of Chinese assets and maintain overallocation of Chinese stocks. Stylistically, since the steady growth policy is relatively moderate, the market style may still be dominated by technological growth in the short term, and the cycle and value style changes still need to wait for more clear economic or policy signals.