According to the CITIC Securities Research Report, domestic demand picked up at 25H1, and the price side recovered marginally. The agency believes that the general direction for China's policy side to continue to make efforts to boost domestic demand is clear. At the same time, against the backdrop of increased market volatility and increased uncertainty, “low expectations and undervaluation” + “steady trend characterized by consumer resilience” are expected to increase the financial preferences of consumption allocation after a correction in the past few years. Unlike the investment logic of the past era of large infrastructure, the current consumer sector shows three main trends.

According to the CITIC Securities Research Report, domestic demand picked up at 25H1, and the price side recovered marginally. The agency believes that the general direction for China's policy side to continue to make efforts to boost domestic demand is clear. At the same time, against the backdrop of increased market volatility and increased uncertainty, “low expectations and undervaluation” + “steady trend characterized by consumer resilience” are expected to increase the financial preferences of consumption allocation after a correction in the past few years. Unlike the investment logic of the past era of large infrastructure, the current consumer sector shows three main trends.