The A-share market ushered in a milestone moment! Data shows that as of December 22nd, the total annual turnover of A-shares this year reached 40.587 trillion yuan, exceeding the 40 trillion yuan mark for the first time. Meanwhile, the average annual turnover rate is close to 1.74%, which is expected to hit a new high since 2016. Throughout the year, 19 individual stocks had a turnover exceeding 1 trillion yuan, indicating a significant improvement in market trading activity.

Against this backdrop, many foreign-funded institutions have intensively released their outlooks on China’s stock market for 2026. Well-known institutions such as Goldman Sachs, JPMorgan Chase, Morgan Stanley, and UBS have collectively turned bullish. Institutions generally believe that driven by improved corporate profitability, breakthroughs in scientific and technological innovation, and enhanced valuation attractiveness, Chinese assets have the foundation for a sustained rebound.

Notably, the issuance scale of sci-tech innovation bonds this year exceeded 1.7 trillion yuan, and the market ecology continued to improve. This has broadened financing channels for sci-tech innovation enterprises and further strengthened the capital market’s function of serving innovation-driven development.