CITIC Securities. The fundamentals are good, and the volatility of the international financial situation is better than that of several other stocks.

China Petroleum is greatly affected by international crude oil futures. Think about it, the price of US$90 per barrel is its cost price, which means that only international crude oil is below US$90. Only when you have a bucket can you make money. Is there many days when the price is below 90 US dollars per barrel? It is definitely not many.

The same goes for banks. We don’t know when this financial crisis will end. In other words, the impact on the banking industry will be considerable, even within China.

In the medium and long term, you must choose stocks with low volatility.