Data-intensive technology and platform companies and the real estate industry are likely to continue to come under pressure during the regulatory restructuring, and the return on equity of large internet companies is likely to decline over time. The weight of the internet sector in the index is likely to fall sharply from the current level of 40 per cent, while the total share of IT and the industrial sector is likely to be significantly higher than the current 12 per cent. Cyber security, local brands that cater to the mass market, innovative drugs, biotechnology and the green economy may be supported. China is trying to rebalance the rise in corporate power and the share of labor pay, which could lead to a systematic downgrade of valuations in some industries, the report said.