Xin Lang Zheng Quan·2025-11-11 02:43Core Insights - The 2026 Capital Market Conference hosted by CITIC Securities emphasizes the theme "Striving for a New Journey," highlighting the evolving global context, technological trends, and regulatory environment impacting China's capital markets [1][2] - The conference features over a hundred top scholars, industry experts, and representatives from various sectors, indicating a strong interest in the future of China's capital markets [1] Group 1: Economic and Market Trends - Geopolitical factors are causing instability in the global landscape, while China's international influence is gradually increasing, with a 7.1% growth in exports in the first three quarters of the year, showcasing the resilience of Chinese manufacturing [1][2] - The transition from old to new economic drivers in China is expected to create new opportunities in the capital markets, with a focus on the "technology narrative" improving risk appetite [2] Group 2: Structural Changes in Capital Markets - The optimization of the investment and financing environment is anticipated to lead to a structural transformation in China's capital markets, with an increasing market capitalization share for new productivity sectors [2] - Continuous macro and reform policies are expected to result in a mild recovery of the economy next year, stabilizing the growth center for the next five years [2] Group 3: Market Ecosystem and Investor Behavior - The improvement in the inclusiveness and adaptability of capital market regulations is likely to foster a new market ecosystem, enhancing the compatibility between risk appetite and new productivity sectors [2] - There is a notable trend of household savings being converted into investments, with future reforms focusing on creating a more attractive long-term investment environment and improving the supply of quality financial products [2]