中国股票策略 - 四大投资主题分析-China Equity Strategy_ A tale of four investment themes

Index targets. We lift our end-2025e target for SHCOMP to 4,000 (from 3,700), CSI300 to 4,600 (from 4,300), and SZCOMP 13,000 (from 11,500) given the abundant liquidity. Our updated end-2025e index targets imply 5-7% upside. China 22 August 2025 Equity Research Report China Equity Strategy Equity Strategy A tale of four investment themes China buys China. Since June, Chinese stocks listed both onshore and offshore have been on the rise. We believe abundant liquidity is the key driver, from 1) deposit migrat ...