Chinese stocks will rise 30 percent this year following a 53 percent surge in 2014 as policy makers reduce funding costs and push through reforms, according to China International Capital Corporation, which correctly called last year’s rally.

While the Shanghai Composite Index soared to a 5 1/2 year high Wednesday, it is still 45 percent below an all-time high reached in 2007, with valuations remaining low, according to Huang Haizhou, managing director at CICC, which was named the top China research team by Institutional Investor magazine for a third year in 2014.

“This is a multi-year rally,” Huang, who predicted last January that China’s stocks would jump 20 percent in 2014, said in New York at an annual conference on the nation’s economic outlook hosted by the National Committee on United States-China Relations. “There’s still time to buy.”

David Fuller's view

I do not disagree, and remain a big long-term bull of China.