摩根士丹利：别对两会抱太大期望，难成为推动市场因素

February 26, 2025 07:39 AM GMT China Musings | Asia Pacific NPC: Unlikely a Catalyst NPC growth targets and fiscal budget could be in line with consensus: a modest expansion with mild support on consumption and tech, albeit lack of deeper social welfare reform. What it means? Tech animal spirits return but broader reflation remains slow. With annual NPC drawing close, market focus starts to shift from recent AI euphoria back to economic fundamentals and macro policy. The week-long NPC meeting will start on ...