fibaasia2023qualifiers| Where will the stock market go in the new stage of high-quality economic development? Zhang Xia of China Merchants Securities: Stocks looking for truly high-quality development can have an expected return of about 10%

Theme: 2024 Fund High-Quality Development Conference: Hundreds of big names gathered to discuss new investment opportunities

On May 18, the Sina Finance 2024 Fund High-Quality Development Conference grandly kicked off! Regulators, top-class economists, more than 20 public fund leaders, nearly 100 fund managers, and nearly 30 popular financial and financial celebrities gathered in Pengcheng to talk about the development of the fund industry and new opportunities for fund investment!

The theme of this fund's high-quality development conference is "Helping new quality productivity to work together for high-quality development." Under the guidance of the "Nine New Countries", the capital market has become the key to corporate financing and promoting economic transformation.fibaasia2023qualifiersNew productivity is the core driving force for high-quality, efficient, fair, sustainable and safe economic development. At this event, Dou Yuming, Wang Fan, Qi Bin, Wang Yiping and other asset management industry leaders; Liu Yuhui and other top economists; Guo Lei, Liu Chenming and other seller research leaders; Liang Xing, Wang Qunhang, Li Wenliang and other investment research celebrities came to the site, and hundreds of important guests gathered to witness the industry honors, discuss future investment trends, and ponder how to help new quality productivity!

Zhang Xia, chief strategic analyst of China Merchants Securities, attended and delivered a keynote speech. When a country's economy enters the current low leverage and higher-quality growth rate, will the stock market perform better or worse? Zhang Xia said thatfibaasia2023qualifiersWe see that the growth rates in Germany, France, Japan, and the United States are not particularly high, the leverage ratio is not particularly high, and the stock market is showing a stable upward trend and continues to hit new highs.

The same is true for A-shares. Although their performance in the past two years has been relatively poor, in the future, China's economy will stabilize and its ROE will stabilize like these developed countries. The ROE of leading A-share companies represented by the Shanghai and Shenzhen 300 will be higher than that of Britain, France, Germany and Japan. Without considering valuation fluctuations, the future annualized rate of return will be around 10%. So we need to find stocks with real high-quality development.