Part 10/14:
This renewed enthusiasm is partly driven by China's robust market performance over the past year, particularly in A-shares. The Chinese stock market has rallied significantly, supported by state-backed funds—collectively known as the "national team"—which held assets worth nearly 4 trillion yen by the end of Q3 2025, concentrated in financial giants. Policy reforms aimed at deeper market access for foreign investors are also contributing to a sense of optimism, although caution remains given the country’s economic challenges.
Yet, some investors remember past volatility and remain cautious. Overall, the trend suggests an emerging consensus that China’s financial markets may be on the brink of a more sustained recovery, even if uncertainties remain.