Given our expectation that the Shanghai composite index is likely to have another 40% upside from the current level to the peak in 2008 (i.e., reaching 7,000 points), this could imply another half ppt boost to household consumption growth.

• 我们预计上证综合指数明年最高很可能将在目前的水平上继续上涨40%25（即，达到7000点），这意味着居民消费增长将再增加0.；5个百分点。