🚀 History was made on Monday as China's A-share market capitalization broke through the 100 trillion yuan barrier for the very first time! That's around $13.9 trillion, people!
By midday, the Industrial and Commercial Bank of China (ICBC) topped the leaderboard at 2.68 trillion yuan in market cap, followed closely by the Agricultural Bank of China (ABC) at 2.41 trillion yuan. On the index side, the Shanghai Composite jumped 1.18% to 3,740.5, the Shenzhen Component climbed 2.25% to 11,896.38, and the ChiNext Index soared 3.63% to 2,626.29. 📈
Economist Pan Helin, who sits on the Expert Committee on Information and Communication Economy under the Ministry of Industry and Information Technology (MIIT), says this rally isn't random. It's powered by China's push in technological innovation – think AI, large models, and digital transformation. 🤖✨
These breakthroughs are not only boosting homegrown champions but also attracting overseas capital, making Chinese assets more appealing on the world stage. 🌏💰
For investors and trend-watchers alike, this moment underlines how tech and innovation can supercharge market growth – stay tuned for more!
Reference(s):
China's A-share market capitalization surpasses 100 trillion yuan
cgtn.com
