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　　Recently, five international institutions, including Goldman Sachs, Credit Suisse, BlackRock, HSBC, and Bernstein, have successively stated that it is a good time to increase their holdings of Chinese stocks, and they are collectively bullish on A-shares.

　　This is not surprising, because from multiple dimensions, A shares have long-term upward momentum, and the investment value will continue to emerge.

　　The long-term performance of the capital market is inseparable from the support of economic fundamentals.

　　Looking back on 2021, although China's economy is facing multiple unfavorable factors inside and outside the country, it is still resilient overall.

According to data released by the National Bureau of Statistics, according to preliminary calculations, the annual GDP was 114.367 trillion yuan, an increase of 8.1% over the previous year at constant prices, and an average growth of 5.1% for the two years.

　　Looking forward to 2022, Ning Jizhe, director of the National Bureau of Statistics, once said at a press conference of the State Council Information Office that despite the "triple pressure" faced by my country's economic development, the overall situation of my country's continued economic recovery and development has not changed, and the economic operation will remain reasonable. The factors in the range have not changed, and the conditions for supporting high-quality development have not changed. The economy is expected to achieve stability and progress throughout the year.

　　Specifically, the central bank further lowered the one-year LPR interest rate after the central bank cut the reserve requirement ahead of schedule.

This will help reduce the cost of enterprises, meet the capital needs of enterprises, stimulate the vitality of market players, and add impetus to the high-quality development of China's economy.

　　It can be expected that in the future, we will launch more measures to help China's economy achieve a reasonable growth in "quantity" and a steady improvement in "quality", and provide full confidence for the long-term improvement of A-shares.

　　From the perspective of industrial development, a series of industrial "14th Five-Year" development plans are being launched one after another, and many listed companies are undoubtedly one of the biggest beneficiaries.

For example, the "14th Five-Year Plan for the Development of Pharmaceutical Industry" issued by nine departments including the Ministry of Industry and Information Technology proposed that high-quality market players should be cultivated in different fields, which pointed out the direction for the development of pharmaceutical industry enterprises.

　　"Look at the spot and know the whole leopard".

In the future, through a series of policy support from the state, more companies will enter the capital market, thereby helping their industrial layout and welcoming the spring of development.

　　In fact, many listed companies have already made preparations. While paying attention to the industrial planning of related industries, they should make arrangements in advance, adhere to the strategy of building the entire industry chain, and form a vertical integration development pattern.

All these help the development of listed companies and allow more investors to share the benefits brought by their growth.

　　From the perspective of the A-share market itself, with the continuous advancement of a series of reforms, the development environment of the capital market has undergone tremendous changes.

As the 2022 system work conference held by the China Securities Regulatory Commission said: the capital market is undergoing more positive structural changes, and the stable and healthy development of the market has a solid foundation.

　　At the same time, the reform is still going on: with the full implementation of the stock issuance registration system as the main line, the reform of the capital market will be further promoted.

　　Looking back at the registration-based reform of the A-share market, it has brought many gratifying changes to the market.

On the one hand, the market vitality is fully released; on the other hand, the market is more inclusive.

It is believed that with the further deepening of the registration system reform, the A-share market will undergo more changes, allowing more investors to participate.

　　In addition, the severe crackdown on violations of laws and regulations will continue to enhance the awe of all parties in the market, thereby urging all parties to jointly create a clear market ecology and enhance market attractiveness.

　　Based on the above factors, it is not difficult to understand why international institutions are bullish on China's A shares.

(Securities Daily)