转自：证券时报 外资重估中国资产。 据最新消息，高盛分析师表示，预计2026年，中国企业盈利可能增长14%，2027年或将增长12%，有助 于提振中国股市表现。另外，摩根士丹利、摩根大通和瑞银近日也相继发表了对中国股票的看涨观点。 资金方面，外资正持续扫货中国资产。据华泰证券的最新报告，截至12月20日，2025年以来全球投资于 中国资产的ETF累计获得831亿美元的资金净流入。就行业分布来看，科技板块获外资流入最多，达95 亿美元，主要来自美国和欧洲地区。 高盛最新预判 华泰证券在最新发布的研究报告中指出，2025年以来，外资显著流入中国科技资产ETF，尤其是科技板 块。 报告显示，截至12月20日，2025年以来全球投资于中国资产的ETF累计获得831亿美元的资金净流入。 其中，境内ETF累计获资金流入786亿美元，境外ETF则累计净流入约45亿美元。从总体数值来看，外 资买入中国资产占比较小；然而，就内部分化情况来看，2025年以来外资对境内资产的配置存在显著倾 向性：就行业分布来看，科技板块获外资流入最多，达95亿美元，主要来自美国和欧洲地区；就具体产 品而言，外资流入排名前10的ETF中有六只为科技 ...

Core Viewpoint - Foreign capital is reassessing Chinese assets, with significant inflows into the technology sector and optimistic forecasts for corporate earnings growth in China [2][4][10]. Group 1: Earnings Growth Predictions - Goldman Sachs analysts predict a 14% growth in Chinese corporate earnings in 2026 and a 12% growth in 2027, which is expected to boost the performance of the Chinese stock market [4][10]. - The report indicates that the MSCI China Index constituents' performance could increase by approximately 1.5% annually until 2030 due to growth in overseas revenue [5]. Group 2: Foreign Capital Inflows - As of December 20, 2025, global investments in Chinese asset ETFs have seen a net inflow of $83.1 billion, with the technology sector receiving the most significant inflow of $9.5 billion, primarily from the US and Europe [9]. - Domestic ETFs accounted for $78.6 billion of the inflow, while foreign ETFs saw a net inflow of about $4.5 billion [9]. Group 3: Sector-Specific Insights - The technology sector is highlighted as a key area for foreign investment, with six out of the top ten foreign inflow ETFs being technology-focused, each receiving over $2 billion [9]. - Analysts from various institutions, including UBS and Morgan Stanley, express confidence in the recovery of Chinese technology stocks, indicating that the growth momentum is still in its early stages [10]. Group 4: Global Investor Sentiment - Global investors are increasingly interested in exploring investment opportunities in China, particularly in the technology and AI sectors, recognizing their strong growth potential [6]. - Clients from emerging markets, including Mexico and Chile, are actively investing in Chinese assets, viewing the technology sector as crucial for long-term growth and diversification [6].