The meeting on December 9 delivered a clear policy signal, emphasizing the expansion of domestic demand and the stabilization of the real estate and stock markets. This undoubtedly serves as a strong boost for economic recovery. From a policy perspective, the government’s focus on domestic demand will directly benefit the consumer sector, particularly leading companies supported by these initiatives. Additionally, efforts to stabilize the real estate market are expected to support real estate stocks, possibly reversing some pessimism and bolstering market confidence.

From the current market valuation standpoint, consumer and real estate stocks are generally undervalued, especially companies like Pinduoduo (PDD) and JD.com (JD). These businesses demonstrate significant growth potential that contrasts with their current low valuations. Pinduoduo continues to expand its penetration in lower-tier cities, while JD.com leverages its strong supply chain to dominate the mid-to-high-end market. Both companies possess solid fundamentals, and the combination of favorable policies and low valuations presents a compelling investment opportunity.

In conclusion, policies aimed at boosting domestic demand and stabilizing markets are likely to bring greater certainty to the economy next year. The consumer and real estate sectors are expected to benefit first, making them key areas for investors to consider.