Analyst: The logic behind the rise of the Chinese stock market is sustainable, and the A-share stock index will reach new highs this year.

"The logic of the rise in the Chinese stock market is sustainable, and the A-share stock index will reach new highs within the year." Fang Yi, Chief Strategy Analyst at Guotai Haitong, said that firstly, the acceleration of China's economic transformation and increased visibility are important prerequisites for the revaluation of valuations. Secondly, the decline in risk-free returns reduces the cost of stock market opportunities, and the surge in asset management demand and the influx of incremental funds into the market are far from over. Thirdly, economic policies and capital market reforms have a key impact on stock market valuations. In addition, global liquidity is about to loosen, and China's "anti-inner circle" and incremental economic support measures are expected to further increase.