You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
瑞银:「十四五」支持看好消费、金融、工业 和可再生能源龙头股
阿思达克 11-12 12:16
瑞银财富管理亚太区投资总监办公室发表报告,指中国「十四五」规划纲要提出一系列全面的发展目标。为应对持续变化的国际环境,中国正将重点转向高品质发展。主要政策与投资重点包括:「双循环」新发展格局、市场改革与开放、科技自主创新、城镇化2.0以及绿色经济。

具体而言,瑞银预期2021年中国GDP按年增速将从2020年的低基数回升至7%,之後将进入中速增长阶段,即2022-2025年增长率在5.0%–5.5%,2026-2035年在4.0%–5.0%。

该行指,「十四五」规划和2035年远景目标建议重申了对世界局势的谨慎论调,强调「世界处於百年未有之大变局」。与「十三五」相比,由於中美关系持续紧张,当前中国面临更加错综复杂的国际环境。决策者预期,无论谁担任美国总统,中美关系难有根本性改善。拜登主政下的美国政府被认为更具可预测性,较现任政府对华敌对态度会减轻,但是拜登很可能寻求联合盟友共同对中国施压。尽管认为大选结果不会对中国的复苏之路和金融市场产生重大影响,但全球供应链多元化可能提速,这使得中国的改革与开放较以往更加重要。

该行表示,就股票而言,「十四五」规划支持看好消费、金融、工业以及可再生能源领域龙头企业的观点。监管机构致力於房地产市场健康发展的努力也支持看好房企债券。认为人民币还有进一步上行空间。另外依然相对於投资级债看好高收益债,因後者的违约风险可控,且估值具吸引力。下调美元/人民币汇率预测,之前对所有期限的预测均为6.7,现在则将2021年上半年预测下调至6.4,2021年下半年预测下调至6.3。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account