See: Our Quarter Century

This is the quarter century we have walked through. When time condenses into a long roll of film, what kind of image will it reflect under the light of memory? We believe that history is not just a series of leaping growth curves, even though the Chinese stories they tell are considered miracles, the innovative creations that soar into the sea are enough to make everyone proud. But we always follow the people behind the curve, the worldly fireworks in the streets and taverns, the joys and sorrows of the masses, are also worth seeing.

[Chief Observation] New Ecology of China's Capital Account

The new regulations for managing overseas listed funds in 2026 and their rapid implementation in multiple regions point to a more complex and profound issue - how to integrate financing, reduction of holdings, full circulation, repatriation, accounts, statistical reporting, and banking development capabilities into a smoother, more secure, and controllable institutional ecosystem after Chinese companies, capital, and investors have deeply embedded themselves in the global market?

Investors tell: "the most exaggerated experience ever" in the rush to buy savings treasury bond bonds

Many investors described the electronic treasury bond issued in April as the "most outrageous and craziest" rush buying experience in history: mobile banking was sold out in seconds, and the quota was sold out in an instant