The reporter interviewed the opinions of eight public equity firms. Most public investors believe that China's economy will continue to recover structurally during the year, and that A-share valuations have received attention, but in the context of limited incremental capital, the market may show a stock game or structural rotation. AI is still the main line for the long term, investing in logic or shifting from racetrack beta to delivering performance to alpha. At the same time, some public funding agencies added that energy, strategic resource products, low dividends, consumption, pharmaceuticals, real estate chains, etc. will be an important complement to the balanced allocation. Overseas CPI, FOMC meetings, and geographical disturbances are still key variables affecting the pace of investment.

The reporter interviewed the opinions of eight public equity firms. Most public investors believe that China's economy will continue to recover structurally during the year, and that A-share valuations have received attention, but in the context of limited incremental capital, the market may show a stock game or structural rotation. AI is still a long-term mainline, investing in logic or shifting from racetrack beta to delivering performance to alpha. At the same time, some public funding agencies added that energy, strategic resource products, low dividends, consumption, pharmaceuticals, real estate chains, etc. will be an important complement to the balanced allocation. Overseas CPI, FOMC meetings, and geographical disturbances are still key variables affecting the pace of investment.