Top researchers from five financial institutions including BOC International Holdings Limited and Minsheng Securities Co said at a forum in Beijing on Sunday they are bullish about China's A-share market in 2011, Shanghai Securities News reported Monday.

One of the researchers forecast that the benchmark Shanghai Composite Index may hit 4,500 points in 2011.

Xu Weihong, head of the research division of Guodu Securities Co, expected the benchmark Shanghai Composite Index to reach 3,500 or even 4,000 points in 2011. He said the loose financial policies will encourage the performance of listed companies, and the initial contraction of macroeconomic policy is also beneficial to the stock market.

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He suggested people should pay attention to the number of new accounts in both the Shanghai and Shenzhen markets, because if the number continues to decrease, investing in the stock market will replace scalping in the market as the trend. As a result, the A-share market will rise, he added.

Li Feng, head of the research division of Minsheng Securities, predicted the benchmark Shanghai Composite Index will fluctuate mainly between 3,600 and 4,000 points and may hit 4,500 points. He said bank stocks will have a better performance next year, which will help the stock market recover. Inflation will not be a problem as, according to their calculation, CPI will gradually fall back after June, he added.

Cheng Wenwei, head of the research division of Bohai Securities Co, suggested investors should focus on emerging industries rather than blue-chip shares.