HUAXI Securities·2025-06-08 13:05Investment Rating - The industry rating is "Recommended" [5] Core Insights - The report highlights a significant increase in A-share average daily trading volume, which reached 12,089 billion yuan, reflecting a 10.5% month-on-month increase and a 62.1% year-on-year increase [3][18] - The report indicates that the non-bank financial Shenwan index rose by 1.99%, outperforming the CSI 300 index by 1.12 percentage points, ranking it 10th among all primary industries [2][13] - The report emphasizes the ongoing support for technological innovation from multiple departments, including the People's Bank of China and the China Securities Regulatory Commission, aiming to enhance financial support for technology enterprises [3][14][15] - Insurance capital is increasingly being directed towards long-term investments, with the launch of significant funds aimed at supporting strategic industries and enhancing capital market stability [4][16][17] Summary by Sections Market and Sector Performance - The average daily trading volume in A-shares for the week was 12,089 billion yuan, with a 10.5% increase from the previous week and a 62.1% increase year-on-year [3][18] - The non-bank financial sector saw a 1.99% increase in its index, with notable performances from sub-sectors such as securities (up 2.39%) and internet finance (up 4.65%) [2][13] Financial Support for Technological Innovation - The Tianjin Financial Forum on June 5, 2025, highlighted a commitment from regulatory bodies to enhance financial support for technology innovation through improved credit services and the establishment of a "technology board" in the bond market [3][14] - The banking sector's knowledge property pledge loan balance exceeded 300 billion yuan, marking a 33.7% year-on-year increase, indicating a growing focus on supporting technology enterprises [14][15] Insurance Sector Developments - China Pacific Insurance announced the establishment of a 500 billion yuan fund aimed at mergers and acquisitions, focusing on key areas of state-owned enterprise reform and modern industrial system construction [4][16] - The report notes that insurance capital is increasingly being utilized for long-term investments, which aligns with the needs of technology enterprises for stable financial support [17]