Affected by the escalation of geographical conflict and tension and growing differences over the evolution of overseas technology stock markets, domestic capital market adjustments have recently intensified, reflecting fluctuations in market sentiment. Guan Tao, chief economist at Huafu Securities, said in an interview with the Securities Times that from the following perspective, the allocation value of Chinese assets is more prominent, and there is a certain misalignment with capital market trends. First, the fundamentals of long-term economic growth have not changed; second, the certainty of policies to increase efficiency has not changed; third, innovation momentum is gradually being unleashed; and fourth, market valuation advantages have yet to be tapped. Guan Tao said that under the dual drive of market demand and policy guidance, the trend of China's economy is moving towards the future and the trend of structural upgrading is clear. Investors should view market shocks rationally, grasp the main line of performance repair, and remain cautious and optimistic about medium- to long-term market trends. At the same time, deepening the comprehensive reform of capital market investment and financing is a “two-way move”. It is necessary not only to continuously improve the capital market ecosystem for long-term long-term investment, but also for investors to continuously strengthen the investment philosophy of long-term investment, value investment, and rational investment. Currently, it is the “litmus test” for the investment concept described above. It is another major test for China's capital market to get rid of “chasing ups and downs” and move towards more maturity.

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