According to CoinMeta, Liao Bo, the chief macro analyst at Northeast Securities, stated at the 2026 Shanghai Total Quantity Guanlan Forum that recent market fluctuations are mainly due to the rebalancing of liquidity. Liquidity may become the main factor in pricing various asset classes, and the stock market is expected to converge towards intrinsic value. The Sci-Tech Innovation Board and GEM, which have undergone significant adjustments earlier on, are likely to see their valuations recover. The global market will operate in an environment of liquidity fluctuations, and the fundamentals as well as the resilience of corporate earnings will determine the subsequent performance's trend and sustainability. At the industrial level, demand for AI computing power and advanced storage is driving up both volume and price in the hard technology sector. Enterprises representing new productive forces, such as those in AI, robotics, and innovative pharmaceuticals, continue to see high growth in performance. A complete manufacturing system and the cost-effectiveness of products are transforming into a global competitive advantage for export-oriented enterprises. In terms of investment strategy, it can be summarized as "technology as the spear, commodities as the shield"; exports will still be a structural highlight of the Chinese economy in 2027.