中国可选消费 -市场反馈与关键争议-China Consumer Sector_ Consumer Discretionary_ Marketing feedback and key debates

ab 14 November 2025 Global Research First Read China Consumer Sector Consumer Discretionary: Marketing feedback and key debates Key takeaways from our China marketing We met with different types of investors during our China marketing in Shanghai, Beijing, Guangzhou, and Shenzhen in the past 2 weeks. 2026 outlook: in general, onshore investors have remained cautious on consumer discretionary with low expectations for policy support in domestic consumption, but some see opportunities in stocks with a turnaro ...