我们列举了三种减持可能的原因:行业(赢利)周期的见顶、股价严重偏离内在价值、宏观经济的风险,但我们很快就证明了前两种可能性不大。经过推断,我们认为是近期一系列的事件改变了美孚等一些国际投资者对于我国宏观经济的看法。 We cite three possible reasons for the reduction: the peak of the industry (profit) cycle, the stock price deviating significantly from the intrinsic value and the macroeconomic risk, but we quickly proved that the first two are unlikely. After deduction, we think it is a series of recent events that have changed the way some international investors, such as Mobil, view China’s macroeconomy.