Guo Jin Securities’ Chief Economist Song Xuetao: A-shares are expected to return to a fundamental-driven market trend

Mars Finance News On July 20, Song Xuetao, chief economist at Guojin Securities, said that China is in a transition period between old and new growth drivers. Short-term economic data fluctuations will not change the underlying industrial support. Sentiment in sectors such as AI, semiconductors, and advanced manufacturing equipment will remain strong, and central state-owned enterprises will continue to increase investment in emerging industries. With support from a full industrial chain, the resilience of manufacturing exports will be maintained. As expectations for stable state-owned capital funding are strengthened, the market will shift to a structural rally led by fundamental earnings. Looking ahead, industry trends in AI, semiconductors, and advanced manufacturing equipment are strong, and manufacturing advantages are prominent. As the market absorbs external shocks, it is expected to return to a structural rally dominated by fundamentals. (Cailian News)
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