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2025-10-21 10:44:06
[CICC's Peng Wensheng: This Year's A-Share Rise Is Mainly Due to Declining Risk Premiums] On October 21st, at the Xiangmihu Wealth Management Week and "Shenzhen Venture Capital Day" event, hosted by the Shenzhen Wealth Management Association, Peng Wensheng, CICC's Chief Economist, Head of Research, and Dean of the CICC Research Institute, delivered a keynote speech stating that this year's A-share rally wasn't driven by improved earnings, but rather primarily by declining risk premiums and improved future expectations. He believes that changes in macroeconomic policies since September of last year, coupled with the emergence of DeepSeek earlier this year, have led to investors' revaluation of Chinese assets, particularly in the technology sector, leading to improved future expectations.
