Zhong Guo Jing Ying Bao·2025-12-18 03:42Group 1 - HSBC's 2026 Q1 global investment outlook emphasizes China's focus on technological self-reliance, innovation, and high-quality development as part of the "14th Five-Year Plan" [1] - The bank anticipates continued economic stimulus policies in China aimed at boosting consumption, improving livelihoods, and stabilizing the real estate market, with "anti-involution" policies expected to enhance corporate profit margins [1] - HSBC's investment strategy for A-shares involves a "barbell strategy," balancing investments in high-tech growth sectors and high-dividend quality stocks to mitigate potential volatility from overseas markets [1] Group 2 - In the Hong Kong market, strong capital inflows, particularly from wealth management, and a recovering IPO market are identified as key drivers [2] - The supportive policies for AI and other innovative sectors are attracting more corporate investments, contributing to signs of stabilization in the local residential real estate market [2]