Group 1 - Multiple international investment banks have upgraded their ratings on Chinese assets from neutral to overweight, reflecting a consensus among foreign institutions on the positive outlook for Chinese assets due to improving economic fundamentals and ongoing financial reforms [1] - Foreign investment in Chinese assets has remained stable this year, with foreign holdings of domestic RMB bonds exceeding $600 billion and a net increase of $10.1 billion in domestic stocks and funds in the first half of the year, reversing a two-year trend of net selling [1] - The technology and artificial intelligence sectors have become focal points for foreign investment, with firms like Lipper and Invesco accelerating their portfolio adjustments [1] Group 2 - China's financial market connectivity has improved, enhancing the convenience for foreign participation, with a comprehensive financial market system that ranks second globally in market capitalization for both bonds and stocks [2] - Recent policy initiatives, such as allowing foreign financial institutions to offer similar services as domestic ones in pilot free trade zones, are expected to provide broader market opportunities for foreign entities [2] - The A-share market's recovery, with the Shanghai Composite Index and Shenzhen Component Index rising by 11.07% and 16.25% respectively since the beginning of the second half of the year, is attracting foreign investment [2] Group 3 - The stability of the RMB and its independent performance in global markets have made RMB assets an important option for global investors seeking to diversify risks and enhance returns, with 30% of surveyed central banks indicating plans to increase their allocation to RMB assets [3]

近期，多家国际投行表示看好中国发展机遇，将中国资产评级由中性上调至超配。同时，多家外资公募 基金加速布局中国资产。业内人士认为，在中国经济基本面向好、金融改革开放不断深化、资本市场回 暖势头日益显现等多重因素影响下，看多中国资产逐渐成为外资机构共识。 今年以来，外资配置人民币资产总体较为稳定。债券方面，目前外资持有境内人民币债券存量超过6000 亿美元，处于历史较高水平；股票方面，上半年外资净增持境内股票和基金101亿美元，扭转了过去两 年总体净减持态势，特别是五六月份净增持规模增至188亿美元，显示全球资本配置意愿增强。 近年来，我国不断完善金融市场互联互通机制，拓展投资渠道、优化投资环境，外资参与中国金融市场 的便利性明显提升。同时，我国已建成比较齐全和有深度的金融市场体系，债券、股票市场的市值均位 居全球第二，金融产品丰富、流动性强，为外资配置人民币资产提供了多样化选择。 路博迈基金首席市场策略师朱冰倩认为，受益于金融制度型开放，中国境内金融市场进一步融入国际金 融体系。今年1月份，中国人民银行联合4部委印发《关于金融领域在有条件的自由贸易试验区（港）试 点对接国际高标准推进制度型开放的意见》，允许外资 ...

Group 1 - International capital is experiencing a significant shift in attitude towards Chinese assets, with hedge funds rapidly increasing their net purchases of Chinese stocks, marking the highest net buying volume globally in August [1][2] - On August 22, major Chinese stock indices surged, with the Shanghai Composite Index rising 1.45% to surpass 3800 points, reaching a 10-year high, and the STAR Market 50 Index soaring over 8% [2][3] - Emerging market funds have notably decreased their holdings in Indian stocks while significantly increasing their allocations to Chinese mainland and Hong Kong markets [3][4] Group 2 - In June, foreign institutional investors saw a net inflow of $1.2 billion into the Chinese stock market, which further increased to $2.7 billion in July, indicating a strong upward trend in foreign investment [5] - Korean investors have injected $5.8 billion into Hong Kong stocks this year, surpassing the total for 2024, reflecting a growing interest in Chinese assets [5] - The Hang Seng Technology Index-linked ETFs have seen net inflows exceeding $7 billion since the beginning of the year, contributing to a year-to-date increase of over 26% in the index [6] Group 3 - A recent Bank of America survey indicates a rising optimism among fund managers regarding China's economic growth, marking the highest level of confidence since March 2025 [7] - Analysts from Morgan Stanley predict that the inflow of foreign capital into Chinese markets will accelerate due to attractive valuations and improving liquidity conditions [8] - The competitive advantages of Chinese companies in technology research and development, particularly in AI and high-end manufacturing, are drawing increased foreign interest [8]

Group 1 - International capital is experiencing a significant shift in attitude towards Chinese assets, with hedge funds rapidly increasing their net purchases of Chinese stocks, marking the highest net buying volume globally in August [1][2] - The Shanghai Composite Index surged by 1.45% on August 22, reaching a 10-year high, while the ChiNext Index saw an increase of over 8%, indicating strong market performance [2][3] - Emerging market funds have significantly reduced their holdings in Indian stocks while increasing their allocations to Chinese A/H shares and the South Korean market [3][4] Group 2 - In June, foreign institutional investors saw a net inflow of $1.2 billion into the Chinese stock market, which further increased to $2.7 billion in July, indicating a growing trend of foreign investment [5] - Korean investors have injected $5.8 billion into Hong Kong stocks this year, surpassing the total for 2024, reflecting strong foreign interest in Chinese assets [5] - The net inflow of foreign capital into A-shares is expected to continue, driven by the potential for significant funds to enter the market, as only 22% of household financial assets are currently allocated to funds and stocks [7][8] Group 3 - The optimism surrounding China's economic growth is rising among fund managers, with expectations for stronger growth reaching the highest level since March 2025 [7] - The current market rally is supported by improved liquidity, with funds shifting from the bond market to equities, and long-term bond yields indicating a positive outlook for the macroeconomic environment [7][8] - Foreign capital inflows are anticipated to accelerate due to attractive stock valuations and the expectation of declining U.S. interest rates, which may redirect funds back to China [8]

Core Viewpoint - The attitude of international capital towards Chinese assets is undergoing a significant shift, with increased foreign investment and optimism about the Chinese market's future performance [1][8]. Group 1: Foreign Investment Trends - Hedge funds have rapidly increased their net purchases of Chinese stocks, marking the highest net buying volume globally in August, with 90% of hedge funds holding long positions in Chinese stocks [2][3]. - Emerging market funds have significantly reduced their holdings in the Indian stock market while increasing their allocations to Chinese mainland and Hong Kong markets [4][5]. - In June, foreign institutional investors saw a net inflow of $1.2 billion into the Chinese stock market, which further increased to $2.7 billion in July [6]. Group 2: Market Performance - On August 22, Chinese assets experienced a substantial rally, with the Shanghai Composite Index rising 1.45% to surpass 3,800 points, reaching a 10-year high, and the STAR Market 50 Index soaring over 8% [2][3]. - The Hang Seng Technology Index also saw a significant increase of 2.71%, reflecting strong performance across various Chinese asset classes [3]. Group 3: Future Outlook - Analysts predict that the influx of foreign capital into the Chinese market will continue, driven by the attractive valuation of Chinese stocks and the potential for significant liquidity from domestic investors [8][9]. - The Bank of America survey indicates a rising optimism among fund managers regarding China's economic growth, marking the highest level of confidence since March 2025 [8]. - The potential for over 10 trillion RMB in additional capital inflow exists, as only 22% of household financial assets are currently allocated to funds and stocks [8].

今年以来，A股震荡上行，8月份以来A股市场主要指数更是持续上涨。在此背景下，中国资产吸引力持续上升。 △中国资产吸引力持续上升。（资料图，图片由摄图网提供） 外资加速涌入中国股市 海外投资者对中国股市的兴趣明显增加。 近期，韩国股民狂买中国资产成为热点话题。 根据韩国证券存托结算院（KSD）的最新数据， 截至8月20日，年内投资于中国香港股市的累计交易额已超过58亿美元，仅次于美国市场。 另有统计显示，年内韩国基金对中国股票净买入约4.99亿美元，此前3年累计为净卖出9.85亿美元，这表明韩国投资者对中国市场的配置信心逐步恢复。 投资者看法更积极 Wind资讯数据显示，截至今年8月21日，外资机构（含陆股通、QFII/RQFII，不包括外资私募）持有A股市值约为2.5万亿元，相比2024年年末的2.31万亿 元增长8%，占A股总流通市值的2.72%。 随着韩国个人投资者把目光转向大中华区股市，韩国机构也纷纷通过举办相关活动或发行新产品来吸引客户。比如，新韩投资证券举办了为期一年的"佣 金促销活动"，将免除对投资包括中国内地和香港股票在内的新会员在线交易佣金。此外，尤金证券也决定在未来10年内对中国内地和香港股 ...

"想了解和投资中国股票的年轻人越来越多。"韩国人李哲告诉记者，他曾就职于山东一家韩系汽车配件 厂，目前从事贸易工作。李哲本人就有投资中国的股票。"我本来想在中国的证券公司开设账户，但外 国人开户的流程和需要的资料比较复杂。所以只能回到韩国国内的券商开户。好处是方便，但现在只能 投资港股，不能直接投资A股。"李哲告诉记者，十多年前投资中国股票的韩国人并不多，他认识的韩 国人里，主要还是在中国工作过，熟悉中国产业和企业的人。 "因为工作的原因，我比较了解中国的汽车产业。相比韩国的汽车企业，中国企业的创新能力和成本控 制能力强。韩国企业原来一大优势是国际化，但现在中国企业出海的速度也很快。"李哲继续说道，"今 年的情况有些不一样，年轻一代的人越来越关注中国的市场，这或许和去年开始中国对韩国持普通护照 人员试行免签政策有关。越来越多人特别是年轻人，可以到中国了解到真实的发展状况。另外，现在社 交媒体发达，中国出现什么新潮东西，韩国这边很快就知道了。" 事实上，韩国拥有庞大且高度活跃的散户投资者群体。作为一个总人口仅为5000余万人的国家，截至 2023年底的活跃股票交易账户却高达6930万个。在2024年10月前，韩 ...

以下文章来源于东方财富Choice数据 ，作者Choice 东方财富Choice数据 . Choice数据是东方财富旗下智能金融数据品牌，是国内领先的金融数据服务商。我们致力于为金融投资 机构、学术研究机构、政务监管、媒体和专业投资者提供金融投资领域多场景解决方案，以及更高效、 更精准的投资决策依据。 7月以来A股加速上涨，上证指数接连突破3600、3700重要关口，创10年新 高。港股继 续刷新年内新高，继续冲击近四年高点。 年初至今，中国资产领涨全球资本市场。截至8月20日，科创100上涨38.21%，中证 2000上涨33.21%，恒生指数、创业板指涨超20%，上证指数、深证成指涨超12%。 8700亿资金爆买港股 南向资金持续加大买入力度，与近期港股的行情密切相关。Choice数据显示，截至8月20 日，南向资金年内累计净流入8760亿元，已超过2024年全年的7470亿元，刷新新的历史 纪录。 今年4月，高盛曾将2025年南向资金净流入预测从750亿美元上调至1100亿美元（约 7900亿人民币），理由是港股吸引力不断增强。国泰海通指出，年内来看南向资金仍有增 配空间，全年南向资金净流入额有望超10 ...

本篇评级为★★★，主要围绕以下内容展开： 1、融资继续卖出，资金拉锯战延续 2、关注高层峰会是否提振中国资产 如有疑问请以音频内容为准，添加妙投小虎哥微信miaotou515，入群有机会与董小姐进一步交流。 新闻解读评级说明：五星重磅，四星重要，三星级以下大家选择听。 1、融资继续卖出，资金拉锯战延续 今天，国内市场继续接受小考验，压力依旧来自资金层面。融资融券中的融资已连续第二天出现卖出， 净卖出量相当可观，高达282亿元。这里需要稍作澄清：净卖出量与融资余额是两个不同的数据。余额 反映的是已介入但未必立即买入的资金，而刚才提到的融资卖出或买入，则是真金白银的市场行动—— 有人卖出、有人买入，最终对冲出净卖出或净买入。 本文为妙投付费内容，上述仅为摘要，购买本专栏即可解锁完整内容。新用户可免费领本专栏7天阅读 体验机会，在妙投APP-我的-权益兑换 输入"妙投888"即可领取。 大家好，今天是2025年的8月21号星期四，我是董小姐。 ...

历史数据显示，2022年末，韩国股民持仓中国股票276.59亿元，但2023年、2024年对中国股票的持仓连 续下滑。进入2025年，随着中国资产交易热度回升，韩国股票对中国股票的持仓量也快速增长。此前， 韩国证券存托结算院（KSD）旗下SEIBro的数据显示，以成交额计，今年以来中国位列韩国股民最喜爱 的海外市场的第二名，仅次于美国。 来源：金融界 根据Choice数据统计，截至今年8月18日，韩国股民对中国股票（含A股、H股）的持仓量从2024年末的 190.83亿元人民币上涨至244.75亿元，增长近三成。从持仓个股来看，韩国股民尤其热衷买入港股。 Choice数据显示，小米集团、腾讯控股、比亚迪股份、阿里巴巴等代表的科技与新兴产业的龙头公司成 为主要加仓对象。截至8月18日，韩国股民对小米集团、腾讯控股的持仓均超过18亿元人民币。此外韩 国股民对泡泡玛特的持仓也达到4.74亿元人民币。 ...