Xinhua News Agency, April 16, according to the Haitong Strategy Research report, the China Special valuation is the second line this year, and there may be twists and turns in the short term, and there are three directions to focus on in the future. Recently, the overall stock price performance of the "medium special valuation" is relatively eye-catching. The biggest increase in the special valuation index has reached 21% since the beginning of this year, which is more due to the restoration of the valuation of low-valued central enterprises brought about by conceptual speculation, as the market sentiment gradually calms down. the future market may be divided, we should pay attention to the nature of the "special valuation", that is, enterprises with real Chinese characteristics. In the future, the market is expected to gradually reach a consensus on the establishment of enterprise standards with Chinese characteristics and promote the further development of the market. We have previously proposed that the evaluation system of valuation with Chinese characteristics is expected to develop in three directions: ① profitability resilience: state-owned enterprises are the backbone of maintaining the security of the industrial chain, and there is room for revaluation of their profitability resilience. ② growth certainty: the development or acceleration of strategic emerging industries under the national system. ③ cash dividend: the reform of state-owned enterprises promotes the quality of cash flow of state-owned enterprises and the proportion of dividends.