Gelonghui May 12 丨 CICC believesfishingwadersRecently, global investors have paid high attention to Chinese assets. In the volatile environment of major stock markets such as the United States, Japan, Europe, and India, A-shares and Hong Kong stocks have rebounded significantly. In particular, the Hang Seng Chinese-owned Enterprises Index has risen 16.0% year-to-datefishingwaders.5%, leading the gains in the world's major stock markets. The A-share Shanghai Composite Index and the Shanghai and Shenzhen 300 have both risen by around 6% year-to-date. Looking to the future, although it is not ruled out that investor sentiment will recur in the short term after a sustained rebound, combined with the above changes and the current low valuation level of A-shares, the A-share market's repair since February may not have ended. The current A-share market opportunities still outweigh the risks.