Core Insights - The 2025 Capital Market Forum hosted by CITIC Securities focuses on the theme "Forge Ahead in a New Era," discussing the mid-term outlook for the US-China economy, global macroeconomic and strategic landscape, as well as the A-share and Hong Kong-US stock markets [1] Group 1: Economic Outlook - CITIC Securities' General Manager, Zou Yingguang, emphasizes that China is responding to external uncertainties with high-quality development, showcasing new policy approaches and a significant improvement in the capital market ecosystem [1] - Chief Economist Mingming notes that the global economy is undergoing deep restructuring, with China's economy showing signs of recovery amidst challenges, including resilient retail consumption and infrastructure investment [2] - The forecast for China's GDP growth in 2025 is around 5.0%, supported by potential fiscal policy enhancements in consumption, social security, and technological innovation [2] Group 2: Market Strategies - The A-share market is expected to maintain a favorable valuation compared to other asset classes, with a predicted downward trend in government bond yields [2] - Chief A-share Strategist Qiu Xiang anticipates a significant upward trend in Chinese equity assets starting in Q4 2025, driven by synchronized economic and policy cycles across major economies [3] - Recommended investment strategies include focusing on long-term trends such as enhancing China's technological capabilities, European defense autonomy, and improving social security to stimulate domestic demand [3][4] Group 3: Global Economic Context - The ongoing trade conflicts are likely to reshape the global industrial landscape, with a trend towards "rebalancing" of global assets [3] - The forum features discussions on various economic hotspots, including macro strategies, US-China relations, trade war implications, energy transitions, and innovations in healthcare and consumption [5]