2025年，中国跨境资本市场活动明显回暖，国际机构投资者持续加码配置中国股票。截至2025年第三季度，外 资整体低配幅度已由2024年第三季度的-2.5%收窄至-1.3%，低配程度同比降低48%。与此同时，内地企业赴港 上市步伐加快，截至2025年12月底，香港市场共有111家内地企业完成首次公开发行（IPO），发行后合计市 值达5623亿美元。 1月13日至14日，瑞银集团在上海举办第26届瑞银大中华研讨会（GCC）。本届研讨会以"新前沿：识变 局，谋增长"为主题，吸引了超过3600名与会者，包括2300余位来自全球的机构投资者、主权财富基金、家 族办公室代表及私人投资者。 瑞银集团首席执行官安思杰（Sergio P. Ermotti）在会上表示，来自海外的客户人数有所增加，彰显出亚太地区 的重要地位以及市场对中国的关注度回升。中国是瑞银集团的战略市场之一。中国经济展现出的韧性，在先进 制造、人工智能等领域不断释放的创新动能，以及其稳步提升的资本市场全球影响力都为全球投资者带来了新 的机遇。 他判断，整体盈利的提高叠加上估值的复苏，会带动今年A股市场整体进一步上行。在风格上看好成长，因为 历史上来看，市场上 ...

Core Insights - The event celebrating the 10th anniversary of China Construction Bank's Paris branch highlighted the deepening Sino-French financial cooperation and the potential for collaboration in green development and technological innovation [1][2][3] Group 1: Financial Cooperation - The Chinese Embassy in France emphasized the importance of financial institutions like China Construction Bank in enhancing Sino-French trade and investment [1] - The Paris branch has integrated into the local financial ecosystem, showcasing China's large financial institutions as stable and professional [2] - The bank aims to facilitate the "going out" of Chinese enterprises and the "bringing in" of French enterprises, optimizing resource allocation and promoting efficient flow of factors [2][3] Group 2: Market Opportunities - The event featured discussions on new opportunities in green finance, digital economy, and cross-border investment, indicating a new cycle of capital cooperation between China and France [2] - The bank presented its capabilities in panda bond issuance, RMB asset allocation, and cross-border financing, which garnered significant interest from attendees [3] - Participants expressed confidence in China's market openness and the transparency of its policies, which enhances certainty in business collaborations [3]