The logic behind this wave of the stock market trend is worth examining. Recently, it has been rising for thirteen consecutive days, and it’s about to approach 4100 points, but this is not a sentiment-driven rebound. The data is clear: in December 2025, the number of new account openings surged by 2.59 million, totaling nearly 27.5 million for the whole year. Bank deposits exceed 50 trillion yuan, and this money is starting to seek value-added opportunities—this is a natural capital flow, not retail investors rushing chaotically.

Interestingly, the rise is no longer limited to small-cap stocks. Large blue-chip indices like the SSE 50 and CSI 300 are also starting to rise, indicating a change in the allocation logic of incremental funds. Behind this is policy support. On January 5, 2026, the central bank’s meeting sent a clear signal: providing liquidity to securities firms, insurance companies, and other non-bank institutions, shifting from temporary emergency measures to a normalized system. In other words, if the market needs funds in the future, the central bank’s liquidity support will be as accessible as turning on a tap. This has a significant impact on the stability of the capital market.

Looking at the industrial side, Hangzhou QiangNao Technology recently completed a 2 billion yuan financing round, focusing on brain-computer interface technology. This field is no longer just pure concept speculation—it has mature technology, available funding, and existing orders. The national "Brain Project" is advancing at the industrial level, and related sectors in A-shares are beginning to show real reactions. Funds are flowing directly from the primary to the secondary market, indicating that this wave of enthusiasm is not just a short-term hype.

From a global perspective, we cannot ignore the fact that markets in Japan, South Korea, and others are also rising together. This reflects the overall capital flow under the large environmental backdrop of environmental protection. At this point in time, whether it’s the macro liquidity environment or the industrial financing heat, they are all signaling the same message.