Goldman Sachs: A slow bull market is forming in China's stock market, with key indexes expected to have about 30% upside by the end of 2027.

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Goldman Sachs analysts Kinger Lau and others pointed out in their report that the reasons for a sustained bull market include demand-side stimulus combined with the new Five-Year Plan, which helps with growth rebalancing and alleviating internal risks; artificial intelligence is reshaping the profit landscape, and AI capital investment is already boosting profits; Chinese equities remain deeply discounted relative to global stock markets, and the potential scale of funds for reallocating Chinese assets could reach trillions of US dollars.

As the bull market unfolds, macro risks may still trigger periodic pullbacks, but the dominant mindset should shift from "selling on highs" to "buying on lows."

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