Group 1 - The A-share market is entering a new bullish window period supported by four core dimensions: policy, valuation, earnings, and liquidity [1][2][3] - Policy measures are providing a "safety net" for the market, with a focus on stable growth and capital market reforms, creating a favorable macro environment [1][2] - Current A-share valuations are at historical lows, highlighting the "cost-effectiveness" that attracts investment [1][2] Group 2 - The resilience of the real economy and improving earnings are fundamental supports for the market's upward movement, with GDP growth of 5.2% year-on-year in the first three quarters of 2025 [2] - The continuous optimization of economic structure is providing high-quality growth targets for the capital market, with high-tech manufacturing value-added increasing by 9.6% year-on-year [2] - Ample and targeted liquidity is essential for the market's activation, with the People's Bank of China implementing measures to lower financing costs and enhance the attractiveness of equity assets [2][3]
四重支撑勾勒A股市场长期向好运行脉络
Zheng Quan Ri Bao·2025-12-03 16:15