CICC: The Chinese stock market still possesses relative resilience in the short to medium term, and the "re-evaluation of China's assets" is still ongoing.

CICC published a report stating that the implementation of "reciprocal tariffs" by US President Trump presents challenges for the Chinese economy. However, it is believed that compared to 2018 or the past three years, the Chinese stock market has more favorable conditions, including changes in geopolitical narratives and technology narratives, as well as valuation advantages of Chinese assets themselves, and room for macro policy initiatives. Overall, the bank believes that the Chinese stock market still has relative resilience in the short to medium term, and the "re-evaluation of China's assets" is still ongoing.