Goldman Sachs(US:GS) Zhong Guo Zheng Quan Bao·2025-07-03 01:56Group 1 - As of April 22, 73 listed companies have included Qualified Foreign Institutional Investors (QFII) in their top ten circulating shareholders, indicating increased foreign interest in Chinese assets [1] - QFII has been actively increasing their holdings in A-shares, with 20 foreign institutions appearing in the top ten shareholders of disclosed companies, including major players like Abu Dhabi Investment Authority and Morgan Stanley [1] - Foreign institutions are launching new products to express confidence in Chinese assets, such as the recent launch of the Lianbo Zhiyuan Mixed Securities Investment Fund by Lianbo Fund [1] Group 2 - The resilience of the Chinese stock market is supported by policy backing and low valuations, with many foreign institutions expressing optimism about its long-term prospects [2] - HSBC and Nomura have highlighted the potential for significant upside in Chinese indices, predicting 12% and 15% increases for MSCI China and CSI 300 indices respectively [3] - The overseas investor ownership in Chinese stocks remains relatively low, suggesting a higher likelihood of positive surprises in the Chinese economy and corporate earnings [3] Group 3 - Continuous policy incentives are driving foreign institutions to be bullish on Chinese assets, with expectations for higher levels of openness to attract foreign investment [3] - Recent policy proposals aim to optimize cross-border investment channels, including the deepening of Qualified Foreign Limited Partner (QFLP) trials and attracting foreign insurance companies and sovereign funds [3][4] - There is a push to enhance the convenience of cross-border investments, encouraging foreign equity investments and the introduction of more cross-border ETF products [4]