Xin Lang Cai Jing·2025-12-23 07:13Core Insights - The 2026 Annual Strategy Conference of Guotai Junan Futures was held in Hangzhou, focusing on macro trends, industrial upgrades, asset allocation, and the development of the derivatives market [2][11] - Keynote speeches were delivered by prominent economists and analysts, discussing the current economic landscape and future outlooks for the Chinese market [4][13] Economic Outlook - Sheng Songcheng, Director of the China Chief Economist Forum, emphasized the need for continuous policy support for economic recovery, advocating for a balance between investment and consumption, and highlighting the potential impact of RMB appreciation on asset performance [5][13] - Fang Yi, Chief Strategist at Guotai Haitong Securities, expressed optimism about the A-share market, predicting a significant growth cycle starting in 2025, with the Shanghai Composite Index expected to surpass 4000 points again [6][14] Market Trends - Wang Xiao, Research Director at Guotai Junan Futures, projected a period of geopolitical easing in 2026, focusing on policy guidance and economic synchronization [6][15] - The K-shaped economic recovery was highlighted, with a focus on the divergence between high-growth sectors and traditional economic cycles, as well as the potential for price convergence in commodities [6][15] Forum Discussions - A roundtable forum was held to discuss macroeconomic conditions and asset changes for 2026, featuring insights from industry experts on economic cycles, asset allocation opportunities, and developments in the quantitative market [7][16] - The conference included one main forum and nine sub-forums covering topics such as precious metals, energy, and the "14th Five-Year Plan" for industrial development [7][17]