Zhongxin Securities General Manager Zou Yingguang: The trend of residents' savings shifting towards investment is significant, and there is still considerable room for improvement in the allocation of equity assets.

At the 2026 Capital Market Annual Conference of CITIC Securities, General Manager Zou Yingguang pointed out that from the perspective of the institutional environment, the enhancement of the inclusiveness and adaptability of the Chinese capital market system is mainly reflected in two aspects: supporting technological innovation and leveraging wealth effects. On the one hand, the risk appetite of the capital market is more compatible with emerging industries of new quality productivity. Subsequent reforms will focus on the development of equity, bonds, and other forms of direct financing to accurately support high-quality enterprises in issuing IPOs, cultivate high-quality listed companies, and improve the market ecology in an orderly manner. On the other hand, the trend of converting household savings into investments in China is significant, and there is still ample room for improvement in the proportion of equity asset allocation compared to developed markets. Subsequent reforms will focus on creating a "long-term investment" institutional environment, enhancing the supply of high-quality financial products, guiding listed companies to strengthen investor returns, and promoting a virtuous cycle of financing and investment.