出处:民生宏观我们认为,一带一路战略,同样将对中国未来经济产生深远影响——将重构中国国家资产负债表、掀起国内第四次投资热潮,同时也标志着新一轮企业并购浪潮拉开序幕。特别是新一轮企业并购浪潮的兴起,将是国有企业与民营企业共同参与的一次全民狂欢,并为中国资本市场带来一波“并购牛”与美国相比,中国式“黄金时代”的开启,可能更多倚赖结构化红利,需要在技术、人口、政策、市场等各方面盘活存量、扩大增量。譬如,人口红利方面,尽管中国绝 Source: People’s Livelihood Macro In our opinion, the strategy of the Belt and the Road will also have a far-reaching impact on China’s future economy. It will reconstruct the national balance sheet of China and set off the fourth wave of domestic investment. At the same time, it will also mark a wave of new wave of mergers and acquisitions Opening ceremony. In particular, the rise of the wave of mergers and acquisitions in the new round of government mergers and acquisitions will be a national rejoicing among state-owned enterprises and private-owned enterprises and will bring a wave of “mergers and acquisitions” to China’s capital market. Compared with the United States, the Chinese-style “gold Era ”may be more dependent on the structural dividend and need to revitalize the stock in terms of technology, population, policies and markets and increase its increment. For example, in terms of demographic dividend, China must not