洪灏：每10年，中国都会出现一波史诗级的牛市

Group 1 - The forum "Phoenix Bay Area Finance Forum 2025" was held in Guangzhou, focusing on the theme "New Pattern, New Path" and gathering global elites from politics, business, and academia to explore development opportunities [1] - Hong Hao, managing partner of Lianhua Asset Management, highlighted that every decade China experiences an epic bull market, with the last one occurring in 2015 and the one before that in 2005 [2] - This year, Chinese asset prices are beginning to rise, reflecting historical achievements in industries outside of real estate, such as advancements in AI and breakthroughs in chip technology [2][3] Group 2 - Foreign investors are starting to change their narrative about investing in China due to significant progress in key areas like AI and low-altitude economy, which were previously viewed as lacking technological advancement [2] - The A-share market is outperforming major global indices, including those in the US, Japan, and Europe, indicating a positive outlook for the Chinese stock market [3] - The market is still perceived as overly pessimistic, with significant room for growth remaining, as evidenced by the Shanghai Composite Index at 3900 points and the Hang Seng Index at 26000 points [3] Group 3 - The prices of commodities have started to recover due to the government's regulatory actions against unfair competition among upstream enterprises, benefiting traders in copper, aluminum, gold, and silver [3] - Gold and silver have been highlighted as the best-performing asset classes this year, with expectations that their price increases will exceed current projections, indicating a potential century-long bull market [3]