East China Securities: How much more deposits can be moved to the stock market?

East Wu Securities believes that the massive influx of market participation has not yet arrived. In the next two years, there will be a peak in high-interest fixed-term deposits reaching maturity, with an estimated "excess" of over 11 trillion yuan and 4 trillion yuan in 2025 and 2026 respectively, providing the market with huge potential funds. Morgan Stanley has proposed a three-phase roadmap, aiming to guide savings into the market gradually through restoring confidence, reshaping inflation expectations, and social security reform. China's large amount of regular deposits from residents and corporate sectors is experiencing a peak in maturity, signaling the beginning of a massive process of "deposit activation."