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中新ETF互通产品增至10只 吸引更多境外中长期资金投资中国市场
Group 1 - The launch of the Omin E Fund ChiNext ETF on the Singapore Exchange marks an expansion of the China-Singapore ETF mutual access program, providing overseas investors with a convenient tool to invest in China's ChiNext market [1][3] - The ChiNext Index, which the ETF tracks, is a significant benchmark in the A-share market, representing innovative and entrepreneurial companies, with over 90% of its weight in strategic emerging industries such as new generation information technology, new energy vehicles, and biomedicine [1][2] - The ChiNext Index has shown strong fundamental growth, with a compound annual growth rate of 21% in revenue and 14% in net profit since 2021 [1] Group 2 - E Fund's Vice President highlighted that China, as the world's second-largest economy, is steadily advancing financial market openness, making its market an essential part of global asset allocation [2] - The Omin E Fund ChiNext ETF is the second cross-border ETF resulting from the collaboration between Omin Asset Management and E Fund, symbolizing their deepening partnership and joint efforts in international market expansion [2] - The Shenzhen Stock Exchange plans to continue expanding high-level openness and optimize mutual access product mechanisms to attract more long-term foreign capital into the Chinese market [2][3]
QDII基金选股标准放宽 重仓“新面孔”估值不便宜
Zheng Quan Shi Bao· 2025-05-11 18:24
Core Viewpoint - The QDII funds are showing increased tolerance for stock valuations, reflecting a shift in market risk appetite as liquidity conditions change and Chinese asset prices rise globally [1][4]. Group 1: QDII Fund Investment Trends - QDII funds are beginning to invest in previously overlooked stocks, such as Blucor, which has seen its stock price rise over 110% in the last five months despite a projected net loss of 401 million yuan for 2024 [2]. - Funds are increasingly focusing on new economy sectors, with E Fund investing in Quzhi Group, which operates AI-driven vending machines, despite the company projecting a net loss of 167.2 million yuan for 2024 [3]. - Southern Fund has invested in the U.S.-listed company Manbang, which utilizes AI for logistics, marking a shift in QDII fund strategies towards more aggressive stock selection [3]. Group 2: Market Sentiment and Strategy - The shift towards a more aggressive investment strategy among QDII funds indicates growing confidence among institutional investors in the current market [4]. - Historically, QDII funds maintained strict selection criteria to avoid significant losses, but recent changes in liquidity and asset pricing have prompted a reevaluation of these strategies [4]. - Even companies with substantial losses, such as Weimeng Group, are being targeted by funds, suggesting a belief in their potential to benefit from domestic consumption recovery [4]. Group 3: Valuation Perspectives - Valuation assessments are subjective, varying significantly among fund managers based on their market outlook and investment philosophy [5]. - The rise of technology narratives is influencing stock market valuations, contributing to the more aggressive strategies adopted by QDII funds [6]. - The emergence of Chinese tech companies as new growth engines is creating diverse and sustainable investment opportunities, particularly in sectors like AI and consumer demand [7]. Group 4: Market Dynamics - The recovery of the Hang Seng Index's dynamic P/E ratio to historical averages suggests that further valuation increases will depend on corporate earnings and macroeconomic recovery [8]. - There is a notable shift of funds from higher-valued markets in the U.S. and India to lower-valued markets in China and Europe, providing additional capital to the Hong Kong tech sector [7].
【经济论衡】 从409家独角兽看中国新经济活力与后劲
Zheng Quan Shi Bao· 2025-04-14 18:45
站在全球视野看,409这个数字既是勋章也是考题。美国硅谷用半个世纪培育出苹果、特斯拉,德国隐 形冠军企业往往专注细分领域数十年。中国独角兽的"青春风暴"令人惊艳,但能否避免"其兴也勃焉, 其亡也忽焉"的历史周期律?当智元机器人还在练习系围巾时,波士顿动力的Atlas已能后空翻;当我们 的新能源电池续航突破1000公里,固态电池技术又掀起新竞赛。创新没有终点线,今天的领跑可能只是 明天比赛的入场券。 这组数据像一束强光,再度照亮了中国新经济版图。当全球每三家独角兽企业中就有一家来自中国,我 们既为这份成绩单振奋,更需冷静思考:这些疾驰在新赛道上的创新骏马,究竟靠什么赢得未来? 独角兽企业的爆发式增长,本质上是一场关于创新效率的竞赛。上海智元的人形机器人能优雅地倒红 酒,银河航天的卫星太阳翼薄如蝉翼,中建材的光伏玻璃突破1.5毫米极限——这些技术突破揭示了一 个硬道理:中国创新正从"模式复制"转向"技术攻坚"。当年共享单车烧钱大战的硝烟散去后,如今智能 工厂里机械臂的精准舞动、生物实验室的基因剪刀、太空中的可堆叠卫星,才是真正衡量创新含金量的 标尺。这种转变如同登山者从缓坡观光转向峭壁攀岩,既需要更强的技术肌肉, ...