$Hang Seng Index(00HSI.HK)Zhou Weiming, head of Citigroup's Asia-Pacific capital markets division, said the worst-case scenario for foreign investors' views on Chinese stocks has passed. Although they still maintain an underweight position, they no longer view the mainland as an "uninvestable" category as they did earlier, and their allocation to the Chinese market has rebounded. However, he pointed out that to attract overseas companies to list in Hong Kong, the first step is to see a recovery in stock market valuations and liquidity.

Zhou Weiming stated that the stock market rebound over the past few weeks may be due to short covering or previous excessive underweighting. He noted that many foreign investors have increased their allocation to the Chinese market compared to the past, and although it is not yet overweight, it has provided positive momentum for the stock market.

He emphasized, "As long as investors have a rational view of China, avoid excessive pessimism, and focus on actual data, valuations, and capital returns, there is still room for the stock market to rise." However, for investors to become fully optimistic about China and continue to increase their positions, a sustained rebound in the mainland's real economy is needed.