Goldman Sachs(US:GS) 财联社·2026-01-05 11:05Group 1 - The core viewpoint of the report is a recommendation to overweight Chinese stocks by 2026, highlighting potential growth in the Chinese market [1] Group 2 - The report analyzes that there is structural upward potential in China's exports by 2026, with investment expected to rebound under policy support [2] - It emphasizes the importance of service consumption, encouraging increased holidays and paid leave [2] - The "14th Five-Year Plan" prioritizes building a modern industrial system and accelerating high-level technological self-reliance, which may lead to strong export and current account performance in the coming years [2] Group 3 - Goldman Sachs' stock strategy team has previously recommended an overweight position in A-shares and Hong Kong stocks, forecasting annual growth of 15% to 20% for the Chinese stock market in 2026 and 2027 [2] - Factors driving accelerated earnings growth include the application of artificial intelligence, the trend of "going global," and policies aimed at reducing internal competition [2] - The current valuation of the Chinese stock market shows a significant discount compared to global peers [2]