Xin Lang Cai Jing·2025-05-29 02:08Group 1 - The core viewpoint is that the synchronization of economic and policy cycles among China, the US, and Europe may lead to macroeconomic resilience, benefiting core assets driven by favorable fundamentals, reasonable valuations, and ample liquidity [1][2] - The expectation of a synchronized economic cycle among China, the US, and Europe could initiate a significant trend for core assets in China, suggesting a strategic shift back to core asset allocation [2][3] Group 2 - Core assets are expected to outperform due to their relative profitability and strong operational resilience, with the projected net profit growth rate for the Core Asset Index (CSI A500) in 2024 at 0.28%, compared to -2.97% for the broader market [3] - The CSI A500 Index's price-to-earnings (P/E) ratio is currently at 14.42, which is considered relatively reasonable compared to the 134.49 P/E ratio of the CSI 2000 Index, indicating a favorable valuation environment for core assets [4] Group 3 - The influx of incremental capital into the A-share market is anticipated, with a strengthening of the Chinese yuan against the US dollar, which may enhance foreign investment in Chinese equities [7] - The CSI A500 Index ETF (563880) is highlighted as a strategic investment opportunity, offering low management fees and a predictable income distribution mechanism, making it attractive for investors seeking stable returns [7]