中金：中国资产重估仍有空间

Core Viewpoint - The report from CICC suggests that while short-term volatility risks cannot be ruled out, the medium-term upward trend of the index remains intact [1] Group 1: Market Outlook - The key to determining whether the current market rally has ended lies in whether the underlying logic has changed; if it remains unchanged, any pullback presents a buying opportunity [1] - The ongoing restructuring of the global monetary order is still in its early stages, which supports a positive outlook for the market [1] Group 2: Chinese Market Dynamics - China's innovation momentum and advantages in the industrial chain continue to strengthen, contributing to a favorable investment environment [1] - Both A-shares and Hong Kong stocks are still undervalued, indicating that there is room for revaluation of Chinese assets [1]