Global Risk Unleashing and the Two Souls of the Chinese Market

• According to CITIC Securities Research [5], the 2025 global risk release comes from the correction of the market’s over-reliance on the single narrative of AI. The triggers are the downward revision of Fed rate cut expectations and U.S. non-farm payroll data. Risks affect the market through liquidity, sentiment, and valuation channels.
• Gelonghui [6] points out that the “two souls” of the Chinese market are the combination of an efficient market and a proactive government. In 2025, A-shares show structural market trends and the characteristics of a “confidence revaluation bull”. The tech sector (AI, computing power, robotics) leads gains, and policy-beneficiary sectors are active.
• The views of the top ten securities firms [1] suggest that A-share pullbacks present good opportunities for increasing holdings. The organic combination of an efficient market and a proactive government supports long-term trends, and funds oriented toward stable returns continue to enter the market to enhance stability.

• A Reddit user [12] judges that A-shares will continue to rise in December, citing the historical revaluation of Chinese assets externally (overseas investors recognize technological innovation, and Hong Kong stocks outperform A-shares in gains) and the internal economic shift from “investment-debt” to “consumption-innovation” driven.
• Xueqiu user Haidian Zhuo Dashu [11] chose A-shares to rise in December (option C), emphasizing that global risk release is a short-term adjustment. The two core drivers for the Chinese market’s rise are external asset revaluation and internal growth paradigm transformation. The current transformation is similar to that in 1998, and the long-term trend is clear.

: Both agree that global risk release is a short-term phenomenon, the Chinese market has long-term upside potential, and external asset revaluation and internal transformation are core supports.
: The research perspective focuses on long-term structural features (e.g., combination of efficient market and proactive government, tech sector leading gains), while social media pays more attention to the short-term December trend and capital flows.
: Short-term pullbacks do not change the long-term positive trend. Investors can focus on the tech sector (AI, computing power), policy-beneficiary sectors, and assets oriented toward stable returns to seize opportunities for increasing holdings.