At the main forum on March 19, Zhu Yexin, a member of the Party Committee and Executive Member of the Management Committee at CITIC SEC, as well as the head of the research department, delivered a speech. He highlighted that 2026 marks a year of extraordinary historical significance, as it will be the beginning of the 15th Five-Year Plan period. It also represents a critical phase for China as it advances toward the goal of essentially achieving socialist modernization by 2035 and intensifies its efforts across all fronts.

He emphasized that the capital market ecosystem has undergone significant optimization. Stabilizing the market and fostering an environment conducive to long-term investment have become essential requirements for high-quality development in the capital market. A market with enhanced investor protection is gradually taking shape, supported by a multi-tiered capital market system that is more inclusive and adaptable. Regulatory bodies are deepening reforms for the Growth Enterprise Market, improving refinancing mechanisms, and introducing more inclusive listing standards to provide targeted support for emerging industries, new business models, and technology innovation enterprises. It is precisely due to this solid reshaping of underlying logic that the global attractiveness of Chinese assets continues to grow. Driven by both fundamental economic recovery and the influx of incremental capital, the A-share market is currently at a critical turning point, transitioning from存量博弈 (stock game) to增量配置 (incremental allocation). A more resilient and stable new ecosystem for the capital market has already taken shape.