Li Xiaoxing, Deputy General Manager of Fund Operations and Fund Manager at Yinhua Fund, believes that 2026 marks the first year of the 15th Five-Year Plan, during which the impact of prices on nominal growth will diminish, and the certainty of China’s nominal economic growth will rebound. Looking ahead to the equity market in 2026, he stated that overall, opportunities outweigh risks. Although AI-related technology stocks have seen significant gains and some sectors show signs of localized overheating, against the backdrop of synchronized development in the AI industries of China and the United States, there are still many technology-oriented stocks that are expected to deliver solid returns for fund holders. The AI industry has entered the “from 1 to 10” phase. During this stage, China’s engineering talent advantage will accelerate the development of the domestic AI sector, with a large number of companies entering a period of rapid growth. In this sector, he is relatively more optimistic about domestic computing power and AI applications, which he views as areas with a higher probability of success. The widespread adoption of large language models, the advancement of smart devices and robots, and the broad application of AI software all represent new growth drivers for the industry. (Securities Times)