Xinhua News Agency, June 18, China Capital Strategy Research newspaper pointed out that under the benchmark judgment of the slow recession of overseas economies and the mild recovery of China's economy, it holds a neutral and positive view on the A-share market in the second half of 2023, and the index still has some upward space compared with its current position. From now on: 1) China's growth recovery is expected to continue, and policy support is still critical. 2) the profits of listed companies are expected to continue to improve in the second half of the year. Industry configuration: short-term growth as the main line, medium-term consumption. It is suggested that the industry configuration should pay attention to three main lines: 1) to comply with the partial growth areas of new technologies, new industries and new trends, especially the scientific and technological growth tracks such as artificial intelligence and digital economy, the semiconductor industry chain is expected to have the opportunity of cycle reversal and technological resonance in the second half of the year; the software side continues to pay attention to the media Internet and office software that are expected to take the lead in enabling the industry. 2) areas with greater performance flexibility, such as improved demand or improved supply patterns such as inventory and production capacity, such as spirits, white goods, jewelry, power grid equipment and navigation equipment. 3) in areas with high dividend yield and high quality cash flow, undervalued central enterprises still have room to repair under the catalysis of policy.