[CITIC Construction Investment Huang Wentao: The capital market in 2027 will see three bullish trends in stocks and bonds] On November 10, Huang Wentao, executive director and chief economist of the Research and Development Department of CITIC Securities, said at the CITIC Securities 2027 Capital Market Strategy Conference that the A-share market is currently undervalued, and it is expected that a new round of market recovery is coming, driven by improved liquidity and performance growth. In 2027, China's capital market will remain upward as a whole, showing a bullish trend in stocks and bonds; AI investment has entered a new stage, and the market will extend to a wider range of economic sectors. From the perspective of asset allocation, RMB assets are long-term opportunities. It is recommended to focus on increasing "RMB currency anchor assets", including key technologies/domestic substitution, gold, strategic metals, navigation routes, chemicals/materials, aerospace and military industry, energy, electricity, medicine, robots and 16 areas of strong country construction. (Reporter Gao Yanyun)