Gao Shangmu Tianhui: The risk-return ratio in the Chinese market is attractive, and the HALO investment theme has strong sustainability.

In the context of escalating global geopolitical risks and dramatic fluctuations in capital markets, the Chinese market is gradually becoming an important safe haven market in Asia. Mu Tianhui, Chief Equity Strategist at Goldman Sachs Asia-Pacific, recently stated in an interview with reporters that the downside risk in the Chinese market is relatively limited, while there is still room for upside potential, making the risk-return ratio of the Chinese market attractive. Factors such as previous valuation adjustments, light foreign positions, and forward-looking layouts in energy security strategy have become defensive characteristics of the Chinese market.