China is recycling its trade surplus into Hong Kong markets: CICC

Yanliang Miao, Chief Strategist and Executive Head of Research Department at CICC, said Beijing has developed a way to recycle its trade surplus into Hong Kong markets, supporting both mainland and Hong Kong equities. He added that China's market rally is underpinned by more than just AI enthusiasm, with ample liquidity, low interest rates, and solid earnings growth all pointing to strong fundamentals.