The likelihood of a new bull run in China's A-share market has increased as the country is believed to be capable of managing its debt problem and avoiding financial shocks, US investment bank Morgan Stanley said in a report.
美国投行摩根士丹利在一份报告中称，中国被认为有能力解决其债务问题、避免金融震荡，因此中国A股市场再度进入牛市的可能性增强。
The bullish sentiment was based on its positive views about China's ability to rebalance its economy, address the issue of the rapid debt buildup.
看涨的情绪是基于其对中国重新平衡经济、解决迅速增长的债务的问题的能力的积极看法。
China's high level of savings and its strong net asset positions, both domestically and externally, provide adequate buffers against financial shocks, analysts at Morgan Stanley said in the report.
摩根士丹利的分析师们在报告中称，中国的高储蓄水平和在国内外强大的净资产头寸为抵御金融震荡提供了充分的缓冲。

The bank said that the A-share market can enter a new bull market as domestic investors rotate from property and bonds back into stocks. The bank forecast the benchmark Shanghai Composite Index will reach 4,400 points this year.
该投行表示，随着国内投资者从地产和债券重新转向股票，A股市场有可能进入新一轮牛市。该投行预计，基准指数上证综指今年将达到4400点。
The index dropped slightly by 0.15 percent to 3,212.99 points, following a 3.5 percent rally in the past month.
该指数继上个月3.5%的反弹之后，本月报收3212.99点，小幅下跌0.15%。
But some analysts said that it is too early for investors to turn bullish toward A shares as it remains difficult to say whether the ongoing stabilization of the economic growth is sustainable.
但也有分析人士表示，投资者过早转向A股为时过早，因为经济增长的稳定是否可持续还很难说。