---
title: "李迅雷：A 股估值仍有明顯的提升空間，繼續看好黃金"
description: "中泰國際首席經濟學家李迅雷在 “2025 Inclusion·外灘大會” 上表示，A 股估值仍有明顯提升空間，主要受低存款利率和貨幣政策寬鬆影響。他指出，居民風險偏好上升和房地產預期改變是資金流向股市的原因。儘管 A 股融資餘額創十年新高，但相較於 2015 年，槓桿風險可控，且資金更集中於科技和新能源等成長領域。李迅雷繼續看好黃金投資。"
type: "news"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/256727111.md"
published_at: "2025-09-10T11:14:46.000Z"
---

# 李迅雷：A 股估值仍有明顯的提升空間，繼續看好黃金

> 中泰國際首席經濟學家李迅雷在 “2025 Inclusion·外灘大會” 上表示，A 股估值仍有明顯提升空間，主要受低存款利率和貨幣政策寬鬆影響。他指出，居民風險偏好上升和房地產預期改變是資金流向股市的原因。儘管 A 股融資餘額創十年新高，但相較於 2015 年，槓桿風險可控，且資金更集中於科技和新能源等成長領域。李迅雷繼續看好黃金投資。

“對於本輪股市上漲的驅動因素，相較於上市公司盈利增長，我覺得主要來自存款利率的下行，目前進入了低利率時代。” 9 月 10 日，中泰國際首席經濟學家李迅雷在 “2025 Inclusion·外灘大會” 上表示。李迅雷表示，整體看目前 A 股與其他市場相比還存在着一定的低估，單從估值角度來講，應該説還有明顯的提升空間。

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