On January 13, the 26th UBS Greater China Conference (GCC) commenced today in Shanghai under the theme "New Frontiers: Navigating Change, Driving Growth." This event stands as the largest gathering organized by UBS globally, attracting approximately 3,600 participants, with a notable increase in overseas clients, underscoring the Asia-Pacific region's pivotal role and the renewed market focus on China. UBS Group CEO Sergio P. Ermotti stated on-site that Asia-Pacific and China are not merely participants in the global narrative but are actively authoring the next significant chapter. Looking ahead to 2026, he highlighted that the Asia-Pacific region already accounts for over one-third of global wealth and is the fastest-growing economic area globally; China, as the world's second-largest economy, continues to demonstrate resilience; M&A volume in the Asia-Pacific region has grown significantly, and IPO activity is accelerating its recovery—Hong Kong, China, has once again claimed the top spot in global IPO markets, while Japanese M&A activity in the first half of 2025 surged threefold compared to the same period over the previous three years. Over the next five years, North America and Greater China are expected to emerge as the most powerful engines for global wealth creation. Simultaneously, the Asia-Pacific region is well-positioned to capture the new wave of opportunities presented by AI: China's technology sector accelerated innovation in 2025, achieving significant progress across all layers of the AI value chain. New AI models from China have demonstrated technological leadership, and supportive policies are enhancing the ecosystem's resilience. Indeed, this dynamism and ambition are echoed across the wider region, with the broader Asian tech sector not only outperforming global benchmarks but also setting new standards—it accumulated a gain of over 40% last year, surpassing the rise of the Nasdaq index. "The Asia-Pacific region remains a key market for UBS's growth," stated Sergio Ermotti, noting that in 2025, UBS's assets under management (AUM) in Asia-Pacific surpassed $1 trillion for the first time, achieving record financial performance in China. He indicated that the next step involves fully leveraging UBS's multiple business licenses and platforms in China to further strengthen its leading position in investment banking and to expand its wealth management and asset management businesses. The firm is also advancing the issuance of Panda bonds to support its business expansion.