下半年中国经济面临小周期回落,政策面转向紧缩后期的环境,股市在重回升势前还要经历筑底、震荡过程,因此,在大类行业配置上,我们倾向下游行业,以及符合经济转型方向的战略新兴行业。 In the second half of the year, the Chinese economy is facing a small cycle of decline. Its policy is turned to the environment of the later period of tightening. The stock market has to go through the process of bottoms and concussion before its return to the uptrend. Therefore, in the disposition of major industries, we tend to lower the downstream industries and are in line with the economy Strategic emerging industries in the direction of transformation.