With stable and high-quality economic development, the stock market has long-term investment potential. With the effective control of the domestic epidemic situation and the convening of the fourth session of the 13th National people's Congress, the steady and high-quality development of domestic enterprises has been promoted, the overall economic situation has improved, and the stock market has long-term investment potential. Policies such as the launch of the gem under the capital market and the gem registration system actively encourage enterprises in consumer and technology industries to go public. China's economic structure has been transformed and upgraded continuously, with significant gains in consumption and science and technology. A shares + Hong Kong stocks cover the scarce targets of consumption, science and technology, medical care and other industries, forming complementary advantages. Under the background of supply-side reform "three go, one drop and one supplement", the concentration of leading stocks is further improved, and the profitability is stronger. With the improvement of the prosperity of the industry, the leader benefits more significantly.

Investment value analysis of CSI Shanghai, Hong Kong and Shenzhen 500 index (H30455.CSI). CSI Shanghai, Hong Kong and Shenzhen 500 Index selects large market capitalization stocks listed on the Shanghai, Hong Kong and Shenzhen stock exchanges as index sample stocks, which can better reflect the overall performance of large market capitalization enterprises in Shanghai, Hong Kong and Shenzhen. From the perspective of style characteristics, the index presents a market style, with the characteristics of high profit and low volatility. From the perspective of concentration, index holdings are more scattered, which can effectively prevent individual stocks from falling risk. From the perspective of industry allocation and market sector, the number of index stocks covers not only the high-quality consumer, pharmaceutical, manufacturing and technology leading enterprises in A shares, but also the information technology, financial and other giant companies in Hong Kong stocks, bringing together high-quality companies of the two places in one, making it more comprehensive than any single market index, in line with the structural development trend of China's economy. In recent years, the index has good profitability, excellent performance and good risk-adjusted returns. Therefore, we believe that the CSI Shanghai, Hong Kong and Shenzhen 500 Index has a higher allocation value.

Huitian Fuzhong Stock Exchange Shanghai, Hong Kong and Shenzhen 500ETF (517080.SH) investment value analysis. Huitian Fuzhong Securities, Shanghai, Hong Kong and Shenzhen 500ETF takes the CSI Shanghai, Hong Kong and Shenzhen 500 Index as the target index, focusing on high-quality leaders with strong profitability, high asset security and predictable growth in the consumer, pharmaceutical, science and technology industries. The fund operates in ETF mode, which makes the cost of investors' participation in the secondary market lower. Compared with ordinary index funds, it has a series of advantages, such as easy trading, greater performance flexibility in the unilateral rising market, multiple strategies in the primary and secondary market, and so on. Since the listing, the share of the fund has risen steadily, and the discount premium is relatively stable, providing a good channel for investors to participate in the rapid growth dividend of China's core assets.

The advantages of Huitianfu Fund in ETF management. Huitianfu Fund has rich experience in ETF management, including stock funds, index funds, QDII funds, mixed funds, bond funds and money market funds and other products. Ms. Dong Jin, the fund manager, has more than ten years of experience in securities industry, has a rich theoretical background and market experience, and has profound management experience and strong management ability for ETF funds.

Risk tips: 1) based on objective data and evaluation indicators, this paper makes no judgment and investment suggestions on the future trend; 2) the stock position of index products is higher than that of active stock products, and its volatility is relatively greater. It is suitable for investors with high risk tolerance; 3) the trading volume of the index in the past year is relatively low, or there may be liquidity risk.