A-shares Market Capitalization Map Changes: "Innovation Content" Reflects the Rise of China's Emerging Industries

People’s Finance Network, April 2—On April 1, China’s A-share Sci-Tech Innovation Composite Index rose more than 3%, delivering an impressive performance. This trend is not an isolated one-day event; it is a snapshot of the sustained strength of the technology sector in recent years. Driven by technology stocks, the ranks of large-cap companies in the A-share market have continued to expand. As of April 1, the number of companies with market values exceeding 1 trillion yuan had reached 184, up by 5 from the beginning of the year. Among them, there were 12 companies with market values exceeding 10 trillion yuan. A decade ago, there were only 51 companies with market values above 1 trillion yuan and 4 above 10 trillion yuan. Once dominated by finance and energy, the “10-trillion-yuan market-cap club” is now being acceleratedly reshaped by emerging industries represented by hard technology. A milestone appeared on August 22, 2025: the total market value of the electronic industry reached 11.38 trillion yuan, for the first time surpassing the banking sector—which had long held the top spot—to take the No. 1 position among A-share industries. This is not only a moment of glory for an industry; it is also a capital validation of China’s economic shift from factor-driven growth to innovation-driven growth. (Shanghai Securities News)