Zhongjin: The characteristics of this round of market rise are the tendency of total deposits to increase and the need for improvement in total wealth.

Zhongjin pointed out that there are two characteristics of the current stock market: first, the total wealth of residents has not improved significantly; second, during the year-long uptrend, the so-called "deposit moving" is not a common phenomenon. We define a market uptrend as a trend in the Wande Quan A index for more than 12 months. According to this definition, the A-share market has experienced four rounds of market uptrends since 2010, which are May 2014-May 2015, March 2016-October 2017, April 2020-December 2021, and September 2024 to the present.