中外资机构：2026年中国将是全球投资者瞩目的市场

Core Viewpoint - China is expected to be a focal market for global investors by 2026, driven by advancements in technology and a robust AI ecosystem, which presents significant opportunities for overseas investors [10][11][25]. Group 1: Market Trends and Predictions - Since April 2025, there has been a trend of global investors reallocating assets outside the US, which is likely to continue into 2026, increasing capital allocation towards Chinese assets [12]. - The Chinese stock market is anticipated to experience a valuation reassessment driven by innovation, with future upward momentum expected to shift from valuation recovery to profit improvement [13]. - A "barbell strategy" is recommended, balancing high-dividend assets with technology stocks that are expected to improve profits due to domestic innovation and international expansion [13][14]. Group 2: Economic Policies and Opportunities - The "14th Five-Year Plan" will focus on modernizing the industrial system and expanding domestic demand, with key investment opportunities in traditional industry upgrades, advanced manufacturing, and emerging sectors like renewable energy and aerospace [15]. - The policy environment is expected to support consumption and investment recovery, particularly in real estate and technology sectors, which will be crucial for future returns [16]. - The anticipated policies will likely enhance corporate profit margins and stimulate economic growth, especially in the context of stable RMB exchange rates and increased household asset reallocation [14][15]. Group 3: Global Economic Context - The Federal Reserve is expected to lower interest rates by 50 to 75 basis points in 2026, which will improve financial conditions and potentially boost risk appetite, although actual growth and profit quality will be critical for market recovery [18][19]. - Japan's monetary policy is projected to continue its gradual normalization, with potential implications for global financial markets, particularly in terms of currency fluctuations and risk asset volatility [20][21][22]. Group 4: Investment Strategies - A diversified investment approach is recommended, focusing on technology sectors related to capital expenditure expansion and energy transition, while also considering emerging markets with strong domestic demand [24][25]. - The Asian markets, particularly China, Hong Kong, Singapore, and South Korea, are viewed as core growth engines, with a strategic shift towards these regions while reducing exposure to US equities [25]. - The use of gold and alternative investment strategies is suggested to enhance portfolio resilience, alongside a barbell approach that combines growth-oriented technology investments with defensive sectors like healthcare and utilities [28].