Great Wall Securities Economists: A-shares Enter Long-Term Value Zone

This is a sell-side house view, not a market-moving disclosure, so its significance lies in what it reveals about domestic sentiment: a major brokerage's economics team publicly arguing that pessimism is already reflected in prices. That framing matters most to onshore institutional allocators weighing whether the recent pullback is exhaustion or continuation, since brokerage research often shapes how local funds position into policy meetings. The claim rests on two assumptions — that policy execution delivers and that fundamentals genuinely converge — neither of which is evidenced here. Whether those two tracks actually meet is the open question.