券商中国·2025-12-03 15:13Core Viewpoints - The 2026 Postal Financial Forum highlighted the importance of risk awareness and effective credit supply in the banking sector, emphasizing the need for banks to combine risk assessment with opportunity recognition [1][3][4] - Insurance funds are evolving into more strategic players in the capital market, focusing on long-term investments and aligning with national strategies [10][11] - The Chinese equity market is expected to enter a long-term structural bull market by 2026, driven by improving corporate profits and strategic investment themes [12][13] Banking Sector Insights - Liu Jianjun, President of Postal Savings Bank, emphasized the need for banks to cultivate a "future-oriented" risk perspective to enhance credit availability, especially in a low-interest-rate environment [3][4] - Eight strategies were proposed to address challenges in the banking sector, including long-termism, capability building, digital transformation, and risk management [4][5][6][7][8][9] Insurance Sector Developments - Han Guangyue, Chairman of China Postal Life Insurance, noted that insurance funds are now prioritizing asset-liability matching and capital efficiency, moving towards lower-risk, high-capital efficiency assets [10][11] - The focus of insurance investments has shifted from cyclical hotspots to sectors like high dividends, technological innovation, and infrastructure, aligning with long-term investment strategies [11] Market Outlook - Huang Fusheng, Chief Economist of China Postal Securities, predicted a structural bull market for Chinese equities starting in 2026, with key investment themes including innovative pharmaceuticals and technology [12] - The bond market is expected to stabilize, with limited room for interest rate cuts, while commodity prices are anticipated to rise due to global economic recovery and supply constraints [13] - Concerns regarding AI stock bubbles were addressed, indicating that current valuations are manageable compared to historical peaks, with increased competition in the tech sector helping to mitigate risks [14]