China's A-Shares at 100 Trillion Yuan: What's Behind the Surge?

China’s stock market hit a historic milestone this week. The Shanghai Composite Index climbed to its highest level in a decade. At the same time, the total market capitalization of A-shares broke through the 100 trillion-yuan mark, or nearly 14 trillion U.S. dollars, for the first time. What are the main factors driving this rally? Compared with previous bull runs, what feels different this time?…