Wang Yang of the Shenyin & Wanguo Futures Research Institute presented a report titled Global Macroeconomic Landscape and Policy Outlook

The report described the first-half 2026 macroeconomic picture as one of "inflation and divergence," with factors including the U.S.-Iran conflict and surging oil prices lifting the overall price level. Wang said the global economy will face a new environment in the second half. The Federal Reserve has identified AI investment as one of three major inflation risks, though he sees little need for a rate increase this year. In China, the policy focus is shifting from stimulating demand to transforming supply, with technological innovation and structural upgrading driving growth. High-tech and equipment manufacturing have outpaced other sectors by a wide margin. Wang said AI could fuel inflation in the short term but turn deflationary over time, as the industry cycle broadens and value shifts from resources to advanced manufacturing.