日本，如何走出失去的30年？

Core Viewpoint - The current economic situation is causing concerns about future income and retirement, similar to Japan's lost decades. The key to preserving wealth is effective asset allocation, with a focus on the Japanese pension system as a reference for investment strategies [1][10]. Group 1: Japanese Pension System - Japan's pension system has managed to provide substantial payouts despite economic stagnation and an aging population, primarily through investment strategies [2][11]. - The scale of Japan's pension fund is approximately $1.6 trillion (12 trillion RMB), with total returns reaching 5.2 trillion RMB since 2001 [2]. - The investment strategy of Japan's pension fund emphasizes long-term orientation and risk management, focusing on stable assets [3][4]. Group 2: Asset Allocation Strategy - The Japanese pension fund diversifies its investments: 25% in domestic bonds, 25% in foreign bonds, 25% in domestic stocks, and 25% in foreign stocks, which helps mitigate risks [5][6]. - High-yield stocks are a significant part of the investment strategy, with domestic high-yield stocks outperforming the market, providing stable dividends [7][8][9]. Group 3: Investment Recommendations - To ensure returns, it is recommended to invest in high-yield domestic stocks and allocate funds to lower-risk, stable-return assets like savings [11][18]. - The current market conditions suggest that investing in high-yield bank stocks could be beneficial, as they offer stable dividends of 5-8% [15][17]. - The trend of public funds needing to outperform the CSI 300 index indicates a significant flow of capital into bank stocks, which have shown resilience even during market downturns [16][17].