“这次真的不一样”，全球顶尖投资机构发声！

Group 1 - The core viewpoint of the discussion is that the Chinese stock market is expected to maintain a slow bull market in 2026, with significant opportunities in the AI sector, which is currently underestimated globally [19][40]. - Participants believe that the current market dynamics are different from previous cycles, indicating a shift from "short bull, long bear" to a long-term, slow bull market [19][40]. - The "DeepSeek moment" in January 2025 marked a significant turning point in global investors' perception of Chinese assets, highlighting the potential for long-term investment value in Chinese stocks [5][9]. Group 2 - The forum emphasized the importance of understanding individual risk preferences and not blindly following market trends when investing in Chinese assets [19][41]. - There is a consensus among participants that the Chinese market is transitioning towards a more favorable investment environment, driven by policy support and structural economic changes [25][26]. - The discussion highlighted the need for investors to focus on sectors with high growth potential, such as technology and innovative pharmaceuticals, while being cautious about traditional sectors like real estate [23][27]. Group 3 - The participants noted that the global perception of China's technological capabilities, particularly in AI, is evolving, with increasing recognition of China's strengths in cost efficiency and application [29][32]. - There is a growing belief that China's AI sector is not only catching up but may also lead in certain areas due to its unique advantages in infrastructure and policy support [34][35]. - The discussion pointed out that while the Chinese AI ecosystem is still developing, there are emerging investment opportunities at the company level, particularly in growth-oriented assets [38].