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"Judging from the valuation of government bonds and domestic demand-related stocks, the market's pessimistic expectations may be based on concerns about stagnation. We strongly disagree with this pessimistic expectation," said Zhang Kun, deputy general manager of E Fund Management, in the second quarter report.

Zhang Kun believes that the most important underlying factor is that the diligence and wisdom of the Chinese nation remain unchanged. Whether it is the economic boom brought about by reform and opening up, or the great achievements made by Chinese people overseas, these have been repeatedly proven in the past few decades. There is no reason to believe that these will suddenly disappear. Considering the current level of economic development, as long as people's subjective initiative continues to be exerted, there is no reason for stagnation.

Zhang Kun pointed out that according to the country's 2035 development goals, my country's per capita GDP will reach the level of moderately developed countries in 2035, which means that there is still a lot of room for improvement in the current per capita GDP level. With the increase in per capita GDP, the most direct effect will be reflected in the continuous improvement of people's living standards.

"As long as people's living standards get better and better and they continue to improve their lives, there will be a group of companies that provide high-quality products and services that will be able to continue to grow and create returns," said Zhang Kun. (Ding Xinqing, a reporter from The Paper)