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Cai Tiezheng: Equity Investment Strategy at Historical Point
Release time:2020-05-22Views:559

Cai Tiezheng, General Manager and Board Member of GF QIANHE, expressed at SME-SFI Distinguished Lecture Series that this current era is neither an intersection of  industry lifecycle nor an  economic cycle, but is a starting point of a historical period with huge significance. With the focus on the scarcity of investments, we need to weigh against ROE and ceilings.

Cai Tiezheng pointed out that frictions and tensions in this era are endlessly emerging. The Sino-U.S. frictions have been commonly considered as the longest war. When we get used to the leaping development led by technology, the western countries still continue institutional traditions originated from ancient Greece and their political innovation does not keep abreast of technology innovation. Likewise, the new gap between traditional theory and problems in the real world has widened in the field of international trade. Nowadays, the problems in the macro world are endless, there are lots of breaks-up in general. Facing a complex situation, China implements supply-side reform and vitalizes the institutional system. At the same time, the importance of the capital market has been lifting, and the major reforms to capital structure and capital formation mechanism also has been advanced. In brief, these “clashes” of this era cannot be underestimated.