The 2026 Two Sessions set the tone! Five major signals for A-shares, key points to note!

21st Century Business Herald Reporter Cui Wenjing

After the clear macro policy direction in 2026, the “blueprint” for the future of A-shares has been finalized. The 21st Century Business Herald’s comprehensive interviews and analysis reveal five key signals becoming increasingly clear—understand them before taking action!

Signal One: Key core technology companies are entering a “normalization” green channel for listing, financing, and mergers & acquisitions. Especially with “smart economy” being included in the government work report for the first time, artificial intelligence and its supporting industries will become the next capital hotspot.

Signal Two: The door to the ChiNext Board is wide open! Enterprises in new consumption and modern service industries, as long as they are high-quality and innovative enough, can now go public.

Signal Three: The ChiNext Board itself is undergoing major reforms! Focusing on new industries, new business models, and new technologies, six in-depth reforms are imminent; a more precise and inclusive listing standard will be introduced; some successful experiences from the STAR Market will be directly transferred, with pre-approval mechanisms coming, making listings faster and more inclusive.

Signal Four: Refinance policies will be fully optimized. Shelf issuance, locked-in price private placements, simplified procedures… a package of new policies is about to be implemented. The core is four words: support excellence, support science and technology. Good companies will find it easier to raise funds, while bad companies won’t be able to exploit loopholes.

Signal Five: The bottom line—risk prevention and strict regulation will not be relaxed. Financial fraud and insider trading will continue to be severely cracked down on; hot topics, concept hype, and manipulation will be investigated one by one.

In summary: Risk prevention, strict regulation, and promoting high-quality development remain the overall tone of capital market regulation; hard technology will have a green light, and those who commit fraud will find it difficult to succeed.