摩根大通：中国消费，从商品到体验

Global Markets Strategy 14 June 2025 Wendy Liu AC (852) 2800-1087 wendy.m.liu@jpmorgan.com J.P. Morgan Securities (Asia Pacific) Limited/ J.P. Morgan Broking (Hong Kong) Limited Erin Zhang, CFA 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 China Equity Strategy China consumption: From Goods to Experiences While China's overall consumption trends have been lackluster since re-opening, shares of selected "new consumption" stocks have significantly outperformed the MXCN index YTD. An average weighted index consisting of stocks ...