责任编辑：尉旖涵 责任编辑：尉旖涵 来源：国泰海通君弘 来源：国泰海通君弘 ...

21世纪经济报道记者 孙永乐 上海报道 11月12日，2025年上海证券交易所国际投资者大会在沪举行，大会主题为"价值引领，开放赋能——国 际资本投资并购新机遇"。 摩根资产管理环球主席白博文作为特邀外资机构代表作主题发言，从国际投资人视角讲述了当前中国资 本市场的投资并购机遇。 "924"以来政策实施精准有效 他举例称，中国证监会对公募基金行业全面改革方案建立了建设性框架，有利于改善投资者回报，增强 长期的稳定性和公众信任。与此同时，中国各大证券交易所发展方式高度专业化，令人印象深刻。 白博文相信，中国有能力实现"十五五"规划的目标，进而带来企业盈利增长、股市良好回报，以及更具 全球竞争力的资本市场。 他指出，"投资中国就是投资未来"这一口号，对于全球投资者而言越来越具有现实意义，未来的中国股 市将展现出更强的稳定性、更强的周期、更低的波动。 最后，白博文就中国资本市场发展提出一项重要观察。他观察到，近期中国市场许多交易活动来自指数 基金和ETF。 白博文认为，随着高水平对外开放持续推进，中国将继续实施"反内卷"相关政策，以缓解通缩压力、推 动企业增长与盈利提升，并聚焦科技服务及高端制造业发展。"这样一来， ...

Group 1 - The core message emphasizes that China's capital market will provide irreplaceable investment opportunities for global investors due to the high-quality development of the Chinese economy and the release of reform vitality [1][2] - The Chinese economy is characterized by a robust industrial system, comprehensive infrastructure, vast market scale, and a stable social environment, contributing to its role as a major contributor to global GDP growth [1][2] - The A-share market has seen significant participation from foreign investors, with a stable market capitalization of around 3 trillion yuan, and a net inflow of over 200 billion yuan from long-term funds such as social security and insurance this year [2][3] Group 2 - A significant portion of A-share listed companies have maintained resilience, with three-quarters achieving profitability and half experiencing profit growth, reflecting the strength of innovation and technological advancement [3][4] - The proportion of high-tech enterprises among newly listed companies has exceeded 90%, indicating a strong focus on advanced manufacturing, digital economy, and green low-carbon sectors [3] - A-share companies have set historical records in shareholder returns, with total dividends reaching 2.4 trillion yuan and share buybacks at 147.6 billion yuan, enhancing the stability and predictability of returns for investors [3][4] Group 3 - The China Securities Regulatory Commission (CSRC) plans to continue guiding listed companies to enhance investment value through cash dividends, share buybacks, and mergers and acquisitions [4][5] - The CSRC aims to create a better ecological environment for foreign investment through systematic openness, focusing on market-oriented, legal, and international directions [4][5] - Future initiatives will include improving transparency and predictability of regulations, enhancing communication with international investors, and strengthening cross-border regulatory cooperation [5]