Core Insights - The conference held by Bosera Fund focused on global macro changes, the outlook for China's capital markets, and investment opportunities in various industries [2][4] - Experts from various financial institutions provided insights on the current economic landscape and future market expectations [6][8] Economic Performance - In the first three quarters of 2025, China's economy grew by 5.3%, standing out globally amid a complex macro environment and the Federal Reserve's interest rate cuts [4] - Major indices such as the CSI 300, CSI 500, and STAR Market 50 saw significant increases, indicating an active capital market [4] Market Outlook - The fourth quarter of 2025 is viewed as a critical turning point, with Bosera Fund committed to its strategic positioning as a value creator and high-quality development leader [5] - Experts predict that the A-share market will reflect expectations for 2026, with attractive valuations in Chinese manufacturing, which now accounts for 32% of global manufacturing [6][8] Investment Strategies - Bosera Fund's macro strategy report suggests a balanced asset allocation, focusing on technology, consumer sectors, and gold [8][9] - The report highlights that the domestic equity market performed well in Q3, led by sectors like telecommunications, electronics, and power equipment, while financials and real estate lagged [8] Sector Insights - The pharmaceutical sector is transitioning towards being a strategic emerging industry, opening up valuation opportunities [7] - The retail sector is expected to see profitability improvements among leading companies due to industry reforms [7] - The chemical industry is at a cyclical low but is anticipated to experience an upturn in 2026-2027 [7] Conclusion - Experts agree that the capital market is entering a historic opportunity phase amid global order restructuring and China's economic transformation [9] - Investors are encouraged to adopt a long-term perspective and actively participate in this evolving landscape [9]
博时基金2025年第四季度投资联席会：乐观其势，力展其长，共话资本市场新机遇
Quan Jing Wang·2025-10-16 11:53