Secret 2015A Shares Outbreak

The driving force of the current market comes from monetary easing, reform and innovation. Internationalization 。 We believe that the activity of the A share market has been significantly improved, and that the possibility of a gradual rise in the stock index from a sharp rise to a slow upward trend is likely. Investment in 2015 can be focused on one center: financial securities; two main lines: state-owned enterprise reform, leather and Internet; five industries: TMT, high-end manufacturing (including military industry), health care, new culture, new energy and so on; and there are also opportunities for structural recovery, which are actively promoted by policies. fta And regional integration.

The recently held economic and economic conference of central and southern China has deployed the economic work in 2015, reflecting the initiative and the spirit of doing something. We believe that the core of the policy is: "steady growth, adjustment of structure, promotion of change and change", emphasizing the adaptation to the new normal, and promoting the overall deepening of reform, namely, "resolutely stabilizing growth and resolutely deepening reform", and actively finding new ways of fostering growth and optimizing the spatial pattern of economic development. For the first time, the meeting did not mention any hard economic indicators. It was the first time in recent years that it did not mention real estate regulation, and that the market was further clarified.

So to speak, China's economy With great resilience and potential, growth has slowed but is generally healthy, with no problems in employment and prices. At present, the policy of "adjusting structure and promoting reform and leather", which is actively implemented, has a short-term impact on the growth rate, but it is beneficial in the medium and long term. Since 2014, China's economy has gradually shifted to a new round of growth cycle in structural adjustment, and the driving force of economic growth will mainly come from consumption and innovation.

The emotion of history has become a new force, and "all along the road" has sprouted new vitality. Since the pilot of the Shanghai Free Trade Zone, the FTA has expanded its scope to accelerate. In line with the goal of adjusting the economic structure, the central bank has been using various financial instruments to achieve targeted easing. The rate cut in November 21st marked the beginning of the full easing cycle. All these initiatives and changes are restoring confidence to investors.

Major asset allocation is changing. With the rise of investment confidence, change leather has promoted the change of risk preference. At the same time, market risk free interest rates are also declining. Through resolute and comprehensive reform and opening up, significant changes have also taken place in investment targets. These joint actions have led to changes in asset allocation of investors. The huge wealth accumulated by China's rapid economic development has changed in configuration, and the flow of funds into the A share market has become a trend.

We have strong confidence in China's future and have strong confidence in China's economy. China, with its splendid historical civilization, has become the engine of world economic growth, and the overall economy of the future will continue to grow (medium and high speed).

We believe that the driving force of the current market comes from monetary easing, reform and innovation, and internationalization. The government should make a difference and make full use of the capital market to complete structural adjustment. After the transformation of Xiong Niu in the second half of this year, the activity of the A share market has improved significantly. We expect that the stock index will gradually change from a sharp rise to a concussion next year.