On October 19, 2026, the Buffett Index (total market capitalization of A-shares/GDP of the previous year) was 85.74%; the equity risk premium (ERP) of the CSI 300 Index was 6.01%, a change of -0.03 percentage points from October 16, 2026, still above the 6% reference line. The valuation advantage of A-shares relative to government bonds weakened compared to the previous day, but it is still in a relatively attractive range.