中证协召开2025年第二季度证券基金行业首席经济学家例会

Core Viewpoint - The meeting organized by the China Securities Association on June 27, 2025, focused on the economic outlook for the second half of 2025 and the impact of global supply chain trends on the capital market [1] Economic Outlook - Over 70% of chief economists surveyed expect an increase in the year-on-year growth rates of CPI, PPI, and fixed asset investment in the third quarter of 2025 [1] - Experts recommend enhancing national subsidy policies to stimulate consumption and promote a decrease in real interest rates [1] Supply Chain Trends - The global supply chain is exhibiting characteristics of "nearshoring," "localization," and "diversification" [1] - It is anticipated that China will develop a parallel system of high-end core industrial chains with Europe and the United States, alongside a cross-system of low-value-added basic industrial chains [1] Policy Recommendations - Experts suggest strengthening policy coordination to guide more medium- and long-term funds into supply chain-related sectors, stabilizing market expectations, and enhancing market confidence to support enterprise development [1]