CITIC Securities Co., Ltd.(SH:600030) Xin Hua Cai Jing·2026-01-19 00:25Group 1: Trade and Economic Cooperation - The total import and export value between China and Central Asia has surpassed $100 billion for the first time, reaching $106.3 billion in 2025, with a year-on-year growth of 12%, an increase of 6 percentage points from the previous year [1] - China has become the largest trading partner for Central Asian countries, with the region's share in China's foreign trade increasing [1] Group 2: Service Consumption and Policy Support - The Chinese government is accelerating the cultivation of new growth points in service consumption, with multiple departments issuing supportive policies in areas such as the silver economy, green consumption, and cultural and sports consumption [2] - Experts believe that the upgrade of resident consumption and advancements in digital technology can expand growth opportunities in service consumption [2] Group 3: Investment Strategies and Market Outlook - Asset management institutions are focusing on sectors like artificial intelligence and cyclical industries for investment strategies in 2026, anticipating a favorable overall market environment and structural characteristics [3] - Insurance companies are planning to increase their equity asset allocation in 2026, driven by favorable policies and the potential for improved corporate earnings [5] Group 4: ETF Market Developments - The ETF market has seen significant milestones, with the first fund management company surpassing $100 billion in ETF management scale and the total scale of cross-border ETFs also exceeding $100 billion [4] - The total number of ETFs in the mutual connectivity program has increased from 273 to 364, enhancing investment options for overseas institutional investors [15] Group 5: A-Share Market and Foreign Investment - Foreign institutions are actively researching A-share investment opportunities, particularly in technology sectors such as artificial intelligence and semiconductors, as they find current valuations attractive [8] - The A-share market has shown steady growth, with foreign institutions conducting a total of 70 research sessions on listed companies since the beginning of 2026 [8] Group 6: Data Market and Policy Initiatives - The data factor market is experiencing rapid development, with numerous policy documents focused on data value extraction being released, indicating a national directive for 2026 to be the "Year of Data Factor Value Release" [9] - Local practices are also advancing, with initiatives like the first transaction of a "embodied intelligent data set" completed in Jiangsu [9] Group 7: Performance of Listed Securities Firms - Listed securities firms are expected to report significant profit increases, with estimates indicating a 406% year-on-year growth in net profit for Guolian Minsheng and a 38.46% increase for CITIC Securities in 2025 [11] - The overall upward trend in China's capital market has led to increased expectations for the performance of securities firms [11] Group 8: Fund Management Trends - The first batch of new energy-themed funds has shown a shift in investment focus from traditional lithium batteries to advanced technologies such as smart driving and artificial intelligence [12] - Fund managers are maintaining high positions in their portfolios, reflecting confidence in the structural market trends for new energy sectors in 2026 [12]