In the investment circle, there has always been a saying that "investment can't pass Shanhaiguan and investment can't go to Yunnan, Guizhou and Sichuan", which shows that the industrial development of the three northeastern provinces has discouraged investors who pursue returns.
From a historical point of view, in addition to resource stocks and cyclical stocks (geographical restrictions), investment should pay more attention to listed companies in Jiangnan and coastal areas, especially high technology (state-owned enterprises are another word).