德意志银行：2025年中国迎来“斯普特尼克时刻” ，驱动资产重估报告（英文版）

Wethink2025is the year the investing worldrealizesChinais outcompeting the restof the world. lt's becoming impossible to not acknowledge that its corporates aredelivering superior value for money, and often superior quality, across multiplespheres of manufacturing and increasingly services too. Investors pay fordominance, and we expect the China discount to disappear. Furthermore, webelieve profitability can surprise to the upside through the cycle, due to policyswings to favour consumpti