[JPMorgan Chase Liu Mingdi: With the Fed's rate cut expectations weakened, the value of China's stock market is expected to outperform the growth style in 2025] According to Jinshi Data on December 11, JPMorgan Chase's chief Asia and China equity strategist Liu Mingdi recently released the 2025 China stock outlook. Liu Mingdi said that in 2025, with the prospect of a slowdown in the pace of interest rate cuts by the Federal Reserve, value-style stocks are expected to outperform growth styles. Liu Mingdi suggested that investors maintain a balance between defensive and selected growth companies with strong earnings to cope with potential fluctuations in 2025. Specifically, among high-yield stocks, sectors such as banking, hydropower, energy and home appliances are expected to perform strongly in 2025; among selected growth stocks, the localization of technology and artificial intelligence in the IT field are worthy of attention. (Reprinted from: Jinshi Data)