The Shanghai Investor Confidence Index Report for the third quarter of 2025 shows that the Shanghai investor confidence index reached 120.95 points (up 20.58 points from the previous quarter and 25.35 points from the same period last year), returning to the optimistic range. Confidence among entrepreneurs, institutional investors, and individual investors has shown significant recovery.
Analysis indicates that this quarter’s confidence recovery is mainly attributed to the coordinated efforts of fiscal and monetary policies. On the fiscal policy front, accelerated issuance of ultra-long-term special government bonds and special-purpose bonds has injected substantial funds into major projects and infrastructure. Monetary policy has maintained reasonably ample liquidity, with credit favoring manufacturing and technological innovation. The stock market’s phased recovery has improved wealth effects, while optimized real estate policies have stabilized expectations for household assets.
The entrepreneur investment confidence index reached 118.69 points, a substantial increase of 18.15 points from the previous quarter. Manufacturing profit recovery, new growth drivers from new energy and digital economy sectors, improved financing conditions, and reduced costs have significantly boosted corporate investment willingness.
The institutional investor confidence index reached 145.53 points, rising 42.09 points from the previous quarter to a multi-year high. Institutional funds consider current market valuations reasonable, with predictable policy environments creating opportunities for long-term positioning. Some institutions have begun increasing allocations to technology, manufacturing, and financial sectors, demonstrating stronger market confidence.
The individual investor confidence index reached 109.66 points, up 11.76 points from the previous quarter. Improved consumption, stabilized employment, and wealth effects from housing policy adjustments have collectively supported public optimism. Although some investors remain cautious about market structural differentiation, overall expectations have significantly improved.
With policy implementation, economic recovery, and accelerated industrial upgrading, confidence among enterprises, institutions, and individuals is expected to further translate into “dual growth” of investment and consumption. As a national financial center, changes in Shanghai’s investor sentiment not only reflect local economic vitality but also provide positive signals for national market recovery.
Shanghai Investor Confidence Index
The Shanghai Investor Confidence Index is not a physical place or cultural site, but a statistical indicator that measures the sentiment and expectations of investors in Shanghai’s financial markets. It was launched to provide a barometer for market confidence, reflecting the economic outlook and investment climate in one of China’s major financial hubs. The index helps analysts and policymakers gauge investor perceptions and potential market trends.
ultra-long-term special government bonds
Ultra-long-term special government bonds are sovereign debt instruments issued by governments with maturities typically extending beyond 30 years, sometimes up to 100 years. Historically, they have been used by nations to finance large-scale, long-term public projects or to manage national debt during periods of exceptionally low interest rates. These bonds lock in long-term funding for the government while providing investors with a stable, long-duration asset.
special-purpose bonds
Special-purpose bonds are financial instruments used by corporations or governments to raise capital for specific projects or initiatives. They are typically backed by the revenue generated from the project they finance, such as a toll road or a stadium, rather than the issuer’s general credit. This structure helps to isolate the financial risk of the project.
manufacturing
Manufacturing refers to the industrial process of transforming raw materials into finished goods, typically on a large scale. Its history dates to the Industrial Revolution in the 18th century, which introduced mechanized production and factories, fundamentally reshaping economies and societies. Today, it encompasses diverse methods from automated assembly lines to advanced digital production, remaining a cornerstone of the global economy.
technological innovation
Technological innovation refers to the ongoing process of developing and applying new technologies that transform society. Its history is a continuous narrative of human ingenuity, from the invention of the wheel and the printing press to the Industrial Revolution and the digital age of computers and the internet. This relentless drive for advancement fundamentally reshapes how we live, work, and communicate.
stock market
A stock market is a public marketplace where shares of publicly traded companies are issued and traded. Its origins trace back to 17th-century Amsterdam with the founding of the Dutch East India Company, the first company to issue stocks and bonds. Today, it serves as a critical component of the global economy, enabling capital formation for companies and investment opportunities for individuals and institutions.
real estate policies
Real estate policies are regulatory frameworks established by governments to manage property ownership, development, and transactions. Historically, these policies have evolved to address issues like housing affordability, land use zoning, and market stability. They shape urban growth, influence economic health, and reflect societal priorities regarding shelter and investment.
new energy
“New Energy” is not a specific place or cultural site. It is a broad term referring to renewable and non-traditional energy sources like solar, wind, and geothermal power.
The history of this concept is tied to the 20th and 21st-century global movements seeking alternatives to fossil fuels to address environmental concerns and energy sustainability.
