China Banking and Insurance Asset Management Association surveyed 198 banks
wealth managers, insurance asset managers and insurers. Q3 results show the
equity investment confidence index rose quarter-on-quarter; equity risk appetite
and allocation willingness both increased, and consensus on structural
opportunities strengthened. The fixed-income confidence index slipped slightly
to 50.02, near the 50 expansion–contraction threshold, indicating a cautious,
balanced industry view on the bond market. Short-end easing expectations have
narrowed while long-end allocation value has risen, leaving market expectations
more balanced. Monetary policy easing expectations marginally converged;
confidence in long-end yields and credit allocation showed marginal recovery.
