2026 Economic Forecast Through insights into changes in macroeconomic policies, industry development, and more, we aim to help everyone broaden their perspectives and clarify their direction. 2026 marks the beginning of the 15th Five-Year Plan and serves as a watershed moment for global computing power dominance and the reshaping of monetary logic, positioned at a critical turning point in the Kondratiev cycle. **International Economy** In 2026, the global interest rate environment and investment climate will be relaxed, supporting economic recovery and boosting fundamentals. Commodity demand will increase, marking a big year for raw materials. Keep an eye on sectors like non-ferrous metals and chemicals. **Domestic Market** China's economic focus in 2026 will be on industrial innovation, domestic demand growth, and new trillion-yuan industries. The RMB will appreciate moderately. Pay attention to sectors like new energy, photovoltaics, optoelectronics, and semiconductors. **Asset Allocation** For A-shares, focus on recovery logic, industrial innovation, and emerging industries. Bank wealth management yields will remain low. For gold, time your moves well—sell high, buy low.