国际投行预计沪深300指数2026年上涨12%，“反内卷”或有利于ROE上行

Core Viewpoint - JPMorgan's chief China equity strategist maintains a positive outlook on the Chinese stock market, predicting an approximately 18% increase in the MSCI China Index and a 12% increase in the CSI 300 Index by the end of 2026 [1] Group 1: Market Predictions - The target level for the CSI 300 Index by the end of 2026 is set at 5200 points, indicating over a 12% upside from the current level of 4590 points [1] - The acceleration of the "anti-involution" policy by 2026 is expected to benefit the net profit margin and return on equity of the constituents of the CSI 300 Index [1] Group 2: ETF Information - There are currently 302 ETFs tracking the CSI 300 Index, with the lowest management fee being 0.15% per year for the Huaxia CSI 300 ETF (510330.SH) [1]