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On November 4, 2026, CITIC Securities held its 2027 Capital Market Strategy Conference in Wuhan and released its 2027 A-share market strategy outlook. Chief Strategist Bao Chengchao judged that the breadth of the 2027 A-share market is expected to expand, that non-AI sectors present broad opportunities for structural recovery, and recommended positioning around main themes such as steady returns, outstanding overseas-expanding manufacturers, and domestic demand recovery; he said there is no reason to remain pessimistic about non-AI sectors, as valuations in sectors such as home appliances, consumer electronics, textiles and apparel, and medical devices have fallen to historical extremes. Chief Economist Ming Ming expects China's real GDP growth to be about 4.5% in 2027, the deficit ratio to remain at 4%, and the quota for new special bonds to be raised to 4.5 trillion yuan. In the on-site vote at the conference, the AI industry chain remained the most closely watched investment theme.
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CITIC Securities Releases 2027 A-Share Market Strategy Outlook
Source:East Money
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Nov 4
East Money
CITIC Securities 2027 Capital Market Strategy Conference: Viewing Market Breadth Through AI Enthusiasm, Focusing on Growth and Dividends
CITIC Securities held its 2027 Capital Market Strategy Conference in Wuhan, expecting that the breadth of the A-share market is likely to continue expanding in 2027, with the AI industry chain remaining the most closely watched investment theme in on-site voting. Chief Economist Ming Ming expects China's real GDP growth to be about 4.5% in 2027, and the quota for new special-purpose bonds is expected to rise to 4.5 trillion yuan. Strategist Bao Chengchao believes that if AI investment growth slows, non-AI sectors may see a structural recovery, and steady-return strategies may gain an advantage.
East Money
CITIC Securities: A-share market breadth expected to expand in 2027, non-AI sectors present structural recovery opportunities
At its 2027 capital market strategy meeting, CITIC Securities judged that A-share market breadth is expected to expand in 2027, with broad structural recovery opportunities in non-AI sectors, and recommended positioning around themes such as steady returns, outstanding overseas-expanding manufacturing, and domestic demand recovery. Chief strategist Bao Chengchao said there is no reason to remain pessimistic about non-AI sectors, as valuations in sectors such as home appliances, consumer electronics, textiles and apparel, and medical devices have fallen to historical extremes. Chief economist Ming Ming expects GDP growth of about 4.5% next year, with the deficit ratio continuing at the 4% level.