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The Chinese mainland stock market rally has room for more growth as artificial intelligence applications are set to boost productivity across various sectors, pointing to an almost 20 percent upside potential over the coming 12 months, prominent investment banks and asset managers said. Nevertheless, they said that policy efforts to further reinvigorate domestic demand and confidence are still necessary for sustaining the gains, with the equity transfer of four State-owned financial firms a good sign. Goldman Sachs said in a report on Monday that widespread AI adoption could boost the earnings per share of Chinese equities by 2.5 percent annually over the next decade. Such improving growth prospects and perhaps a confidence boost could raise the fair value of China equities by 15-20 percent. These have prompted the US investment bank to raise its 12-month CSI 300 Index target from 4,600 points to 4,700 points, implying a potential 19 percent price increase from now, the report said, wi
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