Goldman Sachs' latest report: Maintaining a "buy" rating on the Chinese stock market.

Goldman Sachs' chief China equity strategist, Liu Jinjin, released a report stating that despite recent market volatility, they still maintain an "overweight" rating on the Chinese stock market. Liu Jinjin believes that the core factors currently influencing global investor sentiment and stock price trends include the geopolitical tensions in the Middle East and energy price fluctuations, as well as the opportunities and challenges brought by the continued breakthroughs in artificial intelligence technology. In the report, Goldman Sachs pointed out that due to the drag from the software and internet technology sectors, the MSCI China Index has retraced 12% from its peak in late January, falling 5% since the beginning of the year; in comparison, the Shanghai and Shenzhen 300 Index has remained relatively stable and flat for the year. Based on recent discussions with Asian and American clients, Goldman Sachs has updated its market views. Liu Jinjin believes that A-shares have a higher risk-return ratio, but despite maintaining profit forecasts and valuation judgments, it is recommended that investors focus on structural themes to capture excess returns until global geopolitical risks and concerns over AI disruption ease.