摩根大通发表研究报告，重申“反内卷”是中国市场未来18至24个月的主题交易，并有以下新评估：1)“反内卷”政策最接近2021年防止资本无序扩张的监管思路，但范围更广，超过供给侧改革1.0，此次政策重点在于理顺地方政府背书/补贴投资。2)有三个产业生态受影响，其中可再生能源股因收入结构优于地产+宏观股，且政策执行力强于电商股，故具优先性。3)“反内卷”对中国股市极为关键，因更高的ROI是在岸股市机构化进程中市场扩容的前提，该行认为“反内卷”将利好大型行业龙头股。 该行列出受惠“反内卷”政策的中资首选股名单，包括大全新能源、恒力石化、宁德时代、中升控股、宝钢股份、顺丰控股、广汽集团、中石油及中通快递。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱：news_center@staff.hexun.com
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