数据洞察：中国自由流动性与MSCI中国同比变化

M UpdateChina Equity Strategy | Asia Pacific Data NOW: China Free Liquidity vs. MSCI China YoY ChangeMorgan Stanley Asia Limited+Laura WangEquity Strategist Laura.Wang@morganstanley.com +852 2848-6853 Chloe LiuEquity Strategist Chloe.Liu1@morganstanley.com +852 2848-5497 Click here for access Exhibit 1:MS China Free Liquidity Indicator vs. MSCI China YoY % – Free liquidity improved in April but remained in negative territory-30-20-100102030-200-150-100-50050100150200Jan-03Jan-04Jan-05Jan-06Jan-07Jan-08Jan-09Jan-10Jan-11Jan-12Jan-13Jan-14Jan-15Jan-16Jan-17Jan-18Jan-19Jan-20Jan-21Jan-22Jan-23Jan-24Jan-25MSCI China, YoY Chg%China Free Liquidity, YoY Chg%, RHSMS Estimated China Free Liquidity, RHSSource: CEIC, MSCI, FactSet, Morgan Stan