The Chinese mainland’s A-share market hit a historic milestone this Monday, breaking through the 100 trillion yuan ($13.9 trillion) threshold for the first time. This landmark moment reflects growing investor confidence at home and abroad.
Data Snapshot:
- Industrial and Commercial Bank of China led with a 2.68 trillion yuan valuation.
- Agricultural Bank of China followed at 2.41 trillion yuan.
- Shanghai Composite Index climbed 1.18% to 3,740.5.
- Shenzhen Component Index jumped 2.25% to 11,896.38.
- ChiNext Index, tracking growth firms, soared 3.63% to 2,626.29.
According to Pan Helin, an economist on the Expert Committee on Information and Communication Economy under the Chinese mainland’s Ministry of Industry and Information Technology (MIIT), the rally that kicked off earlier this year is no accident. “Breakthroughs in areas such as artificial intelligence, large models, and digital transformation have elevated Chinese mainland assets on the global stage,” he explains.
Indeed, tech-driven innovation is attracting fresh overseas capital, fueling a cycle of growth for the stock market and setting the stage for new expansion opportunities. As the world watches the Chinese mainland’s next move, this 100 trillion yuan milestone highlights the powerful role of innovation in shaping global finance.
Reference(s):
China's A-share market capitalization surpasses 100 trillion yuan
cgtn.com
