Source: Bloomberg

In the past year, investors have thought that the Chinese stock market wants to be dark, but unexpectedly repeatedly misunderstanded, but some institutions believe that there are signs that this wave of rebound may be a bit different.

The determination of China Toto City, the signs of economic recovery and the recovery of corporate profits, coupled with foreign capital return, so that investors such as ABRDN PLC and MG Investment Management have reason to think that the market is pushing back.

This transformation reflects investors' acceptance of China's economic development structure.Some investors bet in China to vigorously develop the high -tech industry and end the landslide of the property market.The stock benchmark index has rebounded more than 10%from the February low point, which shows that in addition to the entry of state -owned assets, there are other buyers.

"The revenue and profits of many companies and industries are still recovering, or it will help to drive relevant stocks and industry stock prices," said Nicholas Chui, a stock investment portfolio manager of Emerging Markets of Franklin, said."We also expect that other industries other than real estate will also grow up and will gradually grow. In this way, we can continue to transform from the real estate economy in a sustainable way."

The current market sentiment has improved compared with a few months ago. At that time, the Chinese stock market was one of the worst stocks in the world. Some well -known investors cut the opening.However, in the future, China has continuously sacrificed support policies, such as the five -year LPR, increasing liquidity, and rectification of the quantitative fund industry. However, it has not adopted a large -scale stimulus policy, which is puzzled by investors.

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The Shanghai -Shenzhen 300 Index has risen nearly 13%compared with the five -year lows hit on February 2, and the Hang Seng China Enterprise Index has risen about 15%over January.

Analysts said that the Chinese government is determined to achieve a target of about 5%this this this this time, indicating that more stimulating measures will be introduced one after another.Data show that the economy is getting better, the CPI is growing up year -on -year, and the manufacturing and service industries are no longer trapped in severe landslides.

"We expect a profit growth of high -digit or low double -digits this year," said Nicholas Yeo, head of the stock business of ABRDN China."This year's shrinkage pressure is reduced, and it will give enterprises a greater pricing power. We are in the bottom of the bottom."

China ’s emphasis on“ high -quality development ”has attracted investors' early betting.They believe that national support will promote the development of industries such as electric vehicles, hydrogen energy, chip manufacturing and automation.

Traders are also quite appreciated with stocks that are stronger than expected.The quarterly performance of the two companies, the ideal car and Xinyi Guangneng, is better than expected. The stock price has reached the largest increase in years. This is completely different from last year. At that time, even if the performance was good, the stock price was not boosted.The GEM index entered the technical bull market on Monday.

"I think there may be a few reasons now," Ronald Temple, chief market strategist of Lazard Asset Management, said in an interview with Bloomberg TV last week."In the next 12 to 18 months, China may become one of the best -performing stock markets."

Overseas funds are also slowly returning.Morgan Stanley's analysis shows that the situation of long -term investors from the world's stock market has been suspended, and some funds are also alleviated.