Recently, the 2025 macroeconomic outlook reports and strategy reports from major foreign investment banks have been released one after another. After reading them, it is clear that foreign investors remain consistently pessimistic about China.

Almost all foreign institutions believe:

China's GDP growth will continue to decline in 2025; the low inflation situation will not improve in 2025; the real estate market will continue to slump, dragging down the economy.

Foreign investment banks openly express their lack of confidence in writing, while foreign institutional investors vote with their feet, also showing their lack of confidence. According to EPFR statistics, active foreign investors continue to sell Chinese stocks, with their holdings in Hong Kong stocks hitting a new low.

Foreign investors' trust in the implementation of our policies has indeed declined. Therefore, they need to see tangible results, not just written or verbal goals and plans.

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