General Manager of CITIC Securities, Zou Yingguang: The "technology narrative" in the Chinese capital market is driving continuous improvement in risk appetite.

The 2026 Capital Market Annual Conference of CITIC Securities was held in Shenzhen on November 11th. General Manager Zou Yingguang stated that from the perspective of technology trends, many Chinese industries are experiencing key breakthroughs. The significant effectiveness of the transformation of China's economic momentum from old to new is expected to bring about new opportunities in the capital market, mainly reflected in three aspects. Firstly, in terms of micro-subject expectations, the "technology narrative" in the Chinese capital market is driving continuous improvement in risk appetite. Secondly, in terms of macro-market characteristics, the development towards the "new" in the Chinese capital market will lead to continued optimization of market structure. Thirdly, in terms of macroeconomic operations, the function of the Chinese capital market in serving the real economy will also help in the transition of economic growth momentum. It is expected that under the continued efforts of macroeconomic and reform policies, China's economy will show a mild recovery trend with structural differentiation next year. The development of new quality productivity will stabilize the growth core of China's economy in the next five years.