Industrial Securities' Wang Han: Chinese Stock Market Cap Share Yet to Peak, No Need to Worry About Bubble

Deep News01-11 15:41

At the 2026 China Chief Economists Forum Annual Meeting held in Shanghai from January 10-11, with the theme "Mid-Game Strategy: Building on the Past to Construct a Leading Nation," Wang Han, Chief Economist at Industrial Securities Co.,Ltd., delivered a speech.

Wang Han pointed out that an observation of global stock market capitalizations reveals that the majority still resides in developed countries. The United States accounts for 26% of global GDP, yet its stock market capitalization represents 48% of the global total. China's GDP accounts for approximately 17% of the global figure, but even when combining A-shares with Hong Kong stocks, its share of global market capitalization is only 14%. This indicates that stock market capitalization does not fully reflect China's economic weight in the global context.

"Therefore, from this perspective, do we need to worry about a bubble in the Chinese stock market? There might be a bubble, but the share of market capitalization has certainly not yet peaked."

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