Oriental Securities' Lu Dayin: China's capital market institutional construction has entered a period of harvest, providing institutional soil for long and healthy bull markets.

On December 18, at the 2026 Investment Strategy Conference of Oriental Securities, Lu Dayin, Deputy Secretary of the Party Committee and Vice President of Oriental Securities, stated that in 2025, amid complex tariff shocks and geopolitical conflicts, China's capital market has ushered in a significant opportunity for stable and positive growth. Lu Dayin mentioned three major objective trends: first, the global order is undergoing profound adjustments, highlighting even more the unique value of China's social security, stable economic development, and creating a more favorable environment for investment and research in the Chinese capital market; second, the institutional construction of China's capital market has entered a period of harvest, with "Financial Powerhouse" being included for the first time in the five-year planning proposals, reflecting a profound leap in China's financial industry development goals from large to strong, providing unprecedented institutional soil for long-term and healthy growth; third, the confidence of the whole society in the country continues to rise, which not only stems from China gradually gaining strategic initiatives in a diverse and complex world, but also from the confidence and courage brought to the people by economic transformation, industrial upgrading, and technological breakthroughs, which will continue to support the value of Chinese assets in the future.