全球资金回流中国，多家外资机构对中国资产表现持积极观点

Core Viewpoint - Multiple foreign institutions have released reports expressing a positive outlook on Chinese assets for 2026, driven by continuous improvement in corporate earnings, breakthroughs in technological innovation, and increasingly attractive valuations [1][4] Group 1: Market Performance and Expectations - Chinese A-shares experienced strong growth in 2020, leading to a return of global capital and an increase in financial market transaction volumes [1] - Several foreign investment banks have raised their market expectations for 2026, with corporate profit improvements expected to support the stock market, projecting earnings growth of 14% and 12% [1] - JPMorgan and Morgan Stanley have set target points for the CSI 300 index between 4800 and 5200 [1] Group 2: Economic Fundamentals and Government Support - Investors are advised to pay attention to fundamentals such as domestic demand, export performance, and government-supported sectors [4] - The Chinese government continues to provide subsidies in the consumption sector and increase infrastructure and funding investments in new productivity areas, supporting a target economic growth of around 5% [4] - With such fundamental support, investors are encouraged to consider increasing holdings in sectors with significant future growth potential, making stock market gains foreseeable [4] Group 3: M&A Market Outlook - As investor confidence in Chinese assets and long-term growth prospects recovers, the M&A market in China is expected to see another year of growth [4] - Investors are showing renewed confidence in achieving synergies and enhancing the capabilities of target companies amid geopolitical dynamics and macroeconomic challenges [4] - This shift in mindset may trigger a wave of strategic transactions aimed at seeking growth and resilience in response to ongoing global challenges [4]