Group 1 - The Chinese stock market has recently strengthened, with the Shanghai Composite Index surpassing 3600 points, reaching a high not seen in over three and a half years [1] - The rise is attributed to the improvement in China-US trade relations and better-than-expected GDP data for the second quarter, which has increased domestic investors' risk appetite and confidence in current policy measures [1] - The ongoing upward trend in the stock market is expected to rely more on the transformation of consumption structure, particularly in the expansion of the service industry, experience-driven consumption, and innovations in pharmaceuticals and green technology [1] Group 2 - Investor sentiment towards Chinese stocks remains positive, with valuations still attractive compared to global and regional peers; more stimulus measures are anticipated in the second half of the year, along with the potential for a comprehensive trade agreement between China and the US [1] - Artificial intelligence continues to be a highlight in the Chinese market, with a focus on practical applications, large-scale adoption, and user-oriented tool development; a recent positive development is the US policy shift allowing AI chip exports to China [1] - The new consumption narrative in China is shifting from merely purchasing goods to deeper experiences and emotional connections, supported by government incentives such as subsidies [2]
景顺：中美贸易回暖及二季度GDP超预期支撑中国股市走强 后市仍有持续上行动力
Zhi Tong Cai Jing·2025-07-25 03:36