Chen Gang, Vice President of Dongfang Securities: The three major narratives of asset revaluation in China are still unfolding.

On August 26, at the event "Reform of Macroeconomic Research in the New Situation" hosted by Oriental Securities and Securities Times, Chen Gang, Vice President of Oriental Securities, stated in his speech that although there are still many variables in the future, there are three certainties worth grasping together: first, the high-quality development of the Chinese economy; second, policy support for the Chinese capital market; third, the repair and improvement of Chinese asset valuation. Chen Gang also mentioned that three major narratives of Chinese asset revaluation are still unfolding: first, DeepSeek's global recognition has caused global investors to reassess China's innovation capabilities and global competitiveness in technology; second, the fastest phase of real estate cycle adjustment may have passed, with signs of stabilization in housing prices in first-tier cities; third, the gradual effects of coordinated macro policies are showing, with stabilization and recovery of the real economy. Currently, the investability of A-shares has increased, with the total market value surpassing one quadrillion yuan for the first time, the Shanghai Composite Index reaching a near ten-year high, various types of medium and long-term funds accelerating their entry into the market, and foreign investment increasing their allocation to Chinese assets.