An investor sits in the stock market exchange center. [File photo]

9. The stock market will face a prolonged battle, and the structural market continue to perform, and overall bull market will unlikely appear.

In the next year, under the "new normal" of economic structure adjustment, reform and transformation, the structural bull market will continue. But on the other hand, as the excess capacity has not been offset, the debt risks are still high, and as there is lack of an external incentive, China does not meet the objective conditions for an overall bull market. The stock market will still mainly rely on structural investment opportunities.

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