CITIC SEC released a Research Report stating that "lightly equipped to re-engage" may be the core idea of this round of economic policy, promoting China's economy to stabilize and rebound while optimizing the structure through the "three-step approach" of risk resolution, fiscal expansion, and deepening reforms, significantly improving social expectations. Looking ahead to 2025, the export sector, facing potential tax increase risks, may become the main drag on growth. However, strong macro counter-cyclical policies will drive improvements in Consumer spending and fixed asset investment. The production side is expected to contribute significantly to GDP, and the overall economic growth in 2025 is expected to present a "U" shape, achieving growth of around 5%.
中信证券：A股的投融资、投资者、产品生态在2025年将站上全新起点
CITIC SEC: The investment and financing, investors, and product ecosystem of A-shares will reach a new starting point in 2025.
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