Institution foresees new trends in the capital market in the second half of the year: reform strengthens foundation, funds increase vitality, and tools improve quality and efficiency.

Multiple institutions have recently issued forecasts for the capital market trends in the second half of 2026. Institutional personnel believe that the capital market reform has gradually shifted from the "construction drawing" stage of top-level planning to the "realistic picture" stage of implementing policy measures. In the second half of the year, on the policy front, major initiatives such as the reform of the Growth Enterprise Market and a package of measures for refinancing will be further deepened and implemented, with the potential to continue expanding the boundaries of direct financing services for the real economy. On the funding side, the mechanism for long-term funds entering the market continues to be improved; on the product side, the toolbox including futures and derivatives will be further equipped to better play the active role of the capital market in optimizing resource allocation and serving the real economy. Overall, the capital market is moving towards a new stage of "quality and efficiency improvement."