China's A-share market reached a historic milestone as its total market capitalization exceeded 100 trillion yuan ($13.9 trillion) for the first time on Monday.

As of midday, Industrial and Commercial Bank of China (ICBC) topped the A-share market capitalization rankings at 2.68 trillion yuan, followed by Agricultural Bank of China (ABC) at 2.41 trillion yuan. Stock indexes also posted broad gains, with the Shanghai Composite Index rising 1.18 percent to 3,740.5, while the Shenzhen Component Index advanced 2.25 percent to 11,896.38. The ChiNext Index, tracking growth enterprises, surged 3.63 percent to 2,626.29.

Chinese economist Pan Helin, also a member of the Expert Committee on Information and Communication Economy under the Ministry of Industry and Information Technology (MIIT), told media publication 21st Century Business Herald that the latest market rally, which began at the start of the year, reflects the concentrated emergence of China's efforts in advancing technological innovation.

He noted that breakthroughs in areas such as artificial intelligence, large models, and digital transformation have boosted the global appeal of Chinese assets. This, in turn, has drawn overseas capital inflows and fueled the prosperity of China's stock market.