中国资产吸引力显著提升 全球“长钱”加大配置力度

Group 1 - In July, Invesco Developing Markets Fund significantly increased its holdings in several Chinese stocks, with increases of 1112.11% in JD.com, 1404.21% in Yili, and 187.16% in Alibaba [1] - Goldman Sachs reported a net inflow of $635.9 billion into global equity funds from August 6 to September 3, with emerging market funds seeing a net inflow of $55.21 billion, and Chinese domestic equity funds leading with a net inflow of $65.5 billion [1] Group 2 - As of September, the attractiveness of Chinese assets has significantly increased, driven by a recovery in the Chinese economy, enhanced competitiveness in the tech sector, and ongoing structural policies [2] - The expectation of a Federal Reserve interest rate cut is growing, with discussions around a potential 50 basis point cut, influenced by stagnation in U.S. job growth [2] - The mid-term outlook suggests a positive environment for domestic demand due to overseas recovery and stabilization of internal momentum, benefiting cyclical industries [2] Group 3 - Chinese tech stocks are becoming increasingly attractive to foreign investors, with global sovereign wealth funds prioritizing allocations to Chinese assets, particularly in technology [3] - There is a valuation discount in some Chinese tech stocks compared to high valuations in U.S. stocks, attracting long-term capital inflows [3] - The growth rate of China's tech industry is expected to continue outpacing overall economic growth, with significant opportunities in semiconductors and artificial intelligence [3]