The New Company Will Expand Its Financing Channels.

"We are cautiously optimistic about the stock market. Although it has nearly doubled, it is expected that the performance of the stock market will be better in the coming months."

Li Jing said that the market expects loose monetary policy, which is expected to drop and cut interest rates once this quarter. Better liquidity will also push the stock market to better performance.

At the same time, Li Jing also said that the future market has two opportunities and two risks.

Opportunities: on the one hand, policy dividends, including the government's financial reform, the institutional bonus of real estate; secondly, the role of "one belt and one road" in promoting the investment in infrastructure, thereby stimulating consumption and employment, and even the scope and scale of bilateral currency swap in the "one belt and one way" related countries, thus promoting the internationalization process of RMB.

In the short term, there are two risks in the market. The first is the risk of the stock market. "The rapid rise of the stock market in the past 6 months has made investor sentiment unprecedented. Now the valuation of A shares can not be expensive, but it is much higher than before."

Li Jing believes that the 4 quarter of last month, many listed companies first quarter results, if lower than market expectations, may have a greater impact on the stock market sentiment.

Second, the slowdown in the manufacturing and commodities sectors has outperformed market expectations.

"Industrial output increased by 6.5% in the first quarter, but only 5.6% in March, and the slowdown in manufacturing growth is accelerating."

Li Jing said.

At the same time, poor performance related to commodities is constrained by overcapacity and stringent environmental challenges, and there are no signs of recovery in related industries in the near future.

For the latest economic data released in the first quarter, Li Jing analysis shows that this shows that domestic economic growth is sound and the economic structure is being optimized.

On the one hand, consumption has become the biggest driving force for economic growth. Meanwhile, the growth rate of residents' income has exceeded the growth rate of GDP.

On the other hand, the growth rate of new industries is faster than that of traditional industries.

Speaking of the "three carriages" of economic growth, Li Jing believed that

Look, although trade growth is lower than expected, the contribution of trade to China's economy is positive, mainly due to the expansion of surplus, the decline in commodity prices and the decline in total imports.

China's exports will gradually stabilize in the two quarter.

In terms of investment, real estate investment was dragged down in the first quarter.

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However, with the new deal stimulating the real estate market in the past one or two months, "the real estate market will definitely recover in the second half of the year. The Chinese real estate market has been in a downturn for about 15 months, because the 15 month has been a double dip in volume and price. The real estate market is expected to recover slowly in the second half of the year when the government is introducing new policies to stimulate the rigid demand."

He said that the current policy should push the market to a better position.

On the one hand, Shenzhen and Hong Kong will be launched in the second half of the year, and the volume of Shanghai and Hong Kong will be expanded.

On the other hand, more capital goes into the stock market, including overseas funds.

"The development of the mainland and Hongkong stock market will bring various benefits to the financial reform.

This week is also the peak of IPO, and the company's financing channels are broader.