On June 19 and 20, China Merchants Securities held in Shenzhen a mid-2012 investment strategy conference themed "The World and China: Old and New", releasing investment strategy series reports on subjects such as mid-2012 macro economy, the A share market, the H share market, and corporate industries. Sean Craig, IMF chief representative in Hong Kong, was invited to deliver the keynote speech World Economic Outlook and Hot Issues. Mr. Ding Anhua, vice president and chief economist of China Merchants Securities, gave an outlook on the macroeconomic trend of China. Over 70 key listed companies from 26 industries were invited to make in-depth communication with investors.

President, Mr.Wang Yan delivered a welcome speech at the conference

 

Mr. Ding pointed out in his speech that: 1. the macro policies in 2012 will be more active and loose, and the Chinese economy will dip in the second quarter and pick up in the second half year, with the GDP growing at 8.1%; 2. considering the impact of the depressing demand worldwide, inflation will drop and reach the bottom in the third quarter and slightly gain in the fourth quarter.

Vice president, chief economist, Mr. Ding Anhua made a keynote speech

 

    

IMF chief representative in Hong Kong, Mr.Sean Craig presented his outlook of world economy 

 

The strategic research team of China Merchants Securities pointed out that the A share market will turn to the mid-2012 rebound driven by economic recovery.

As to industry allocation, thanks to easing liquidity, declining interest rate, recovering industry vitality, and inventory cycle hitting the bottom, investment can be allocated to the real estate industry chain, securities and insurance, midstream and downstream manufacturing, and the pharmaceutical industry, and investment in some consumable brands can be retained.