I am very happy to have this opportunity to exchange views with everyone. Earlier, Professor Xiao Qiu and Professor He Qiang both discussed China's stock market; they are experts in this field. However, this topic is related to the issues I will discuss next, so I will also share my views.
Everyone is asking one question: after fluctuating around 3000 points for several years, China's stock market has finally risen. What are the reasons?
The first reason is that the economic cycle has arrived. Before 2024, I mentioned in some forums and articles that, according to the Kondratiev wave, 2025 marks the starting point of a new Kondratiev cycle, and its engine industry should be new energy, specifically the automotive sector. Indeed, it appears this is the case now. In 2025, our country's automobile production and sales ranked first in the world, surpassing Japan. Furthermore, new energy vehicles are not only set to be the engine of China's new economic cycle but will also profoundly change our work and life. This is the first point explaining the rise from 3000 points.
Second is our anti-corruption campaign. This anti-corruption effort has improved the business environment for enterprises in our country. We noticed a post during the 2025 Spring Festival, written by one of my former students, discussing why Hangzhou could produce the "Six Little Dragons." He also registered a company in Hangzhou, and throughout the entire process, the staff did not even accept a drink of water; he didn't even know their job titles. This post, shared on social media, spread widely across the country. The Hangzhou municipal government also gave an interview, stating their principle is "don't intervene unless called, be available immediately when called, and serve enterprises wholeheartedly." Consequently, businesses, especially small and micro-enterprises, dare to register and operate in Hangzhou. This has indeed led to the emergence of what are currently some of the most prominent tech companies in China, the "Six Little Dragons," born in Hangzhou.
Additionally, it's not just the China Securities Regulatory Commission; other various departments are also ensuring the fair, reasonable, and rule-compliant operation of our stock market. For example, the Supreme People's Procuratorate has already issued a document stating it will severely crack down on financial fraud. If the market environment were poor, who would dare to invest their hard-earned savings into the stock market? Investing would just mean being taken advantage of as a "retail investor," with no prospect of long-term returns. People would rather keep their money in the bank earning low interest than risk their principal in the stock market. So why, now that the index is just over 4000 points, as Professor He Qiang mentioned earlier, have trillions of funds flowed in? It's because everyone sees China's economic takeoff. Without mentioning other examples, even Elon Musk, a highly influential figure with his own Optimus project, has praised the robots from Yushu Technology.
Ordinary people have witnessed with their own eyes that China's stock market is becoming cleaner. For instance, practices like immediate share reductions upon listing, or selling at the first possible date, or using various tactics to reduce holdings were common. But now, these phenomena have disappeared. Therefore, under these circumstances, the public dares to move their savings, the money stored in banks, into the stock market.
I believe these two points are driving the bull market in China's stock market, and this time it is certainly a long-term bull market.
Our topic today is the start of the "15th Five-Year Plan," with 2026 being the first year of this new phase. During the "15th Five-Year Plan" period, AI and artificial intelligence will drive the development of both China's and the global economy. Mr. Ren Zhengfei said, "Artificial intelligence might be humanity's last technological revolution." Elon Musk stated that 2026 is the first year of AGI, meaning it could reach a starting point in 2026. On one hand, AI can promote the prosperity of our human society and economy...
My time is up, so I'll stop here for now. I won't say anything further. Thank you, everyone! ■
Liu Shuwei from the Central University of Finance and Economics: First-year students at Fuyao University of Science and Technology have already been snapped up by companies.
Liu Shuwei mentioned that, as a university teacher, she is currently most concerned about the issue of graduate employment. The problem must be solved at the source: how to ensure 100% employment for university graduates.
She introduced that she is a council member of the He Ren Foundation. Mr. Cao Dewang, founder of Fuyao Glass Industry Group Co., Ltd., donated his assets to the He Ren Foundation, which then allocates funds to Fuyao University of Science and Technology. In its first intake, Fuyao University of Science and Technology enrolled 50 students. Besides studying foundational courses, these 50 students also participate in research projects at major tech companies.
Liu Shuwei stated that due to the influence of President Wang Shuguo and Mr. Cao Dewang, major companies sought cooperation with Fuyao University of Science and Technology as soon as it opened. Consequently, the university now has a very high number of cooperative projects, and all 50 students have already been pre-selected by these major companies.
"Much of the knowledge taught in universities now is outdated because knowledge updates too quickly. Students who enter university through exam-oriented education, and are then trained using poor exam-oriented methods, often have weak adaptability and practical skills upon graduation," she noted. However, students at Fuyao University of Science and Technology are different. From the moment they enter, students know what they need to learn through their involvement in research, and they study extremely hard.
"Because when Mr. Cao Dewang established Fuyao University of Science and Technology, he said it should be run like an enterprise; there is no issue of job assignment for graduates." In 2026, Fuyao University of Science and Technology plans to enroll 100 students. Liu Shuwei suggested, "If parents are responsible for their children, they should encourage them to apply to research-oriented universities like Fuyao University of Science and Technology." ■
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