资本市场“稳”是底色“活”是动力

Core Viewpoint - The recent statement from the Central Political Bureau emphasizes the need for a "stable and active capital market," indicating a dual focus on stability and market vitality moving forward [1][2]. Group 1: Stability as a Foundation - Stability is the essential foundation for the healthy development of the capital market, serving as a baseline requirement for preventing financial risks and activating economic momentum [2]. - The Chinese capital market has been recognized as one of the most vibrant globally, with its stock and bond markets ranking second in size worldwide, and commodity futures trading volumes consistently among the highest [2]. Group 2: Activity as a Driving Force - An active capital market enhances self-repair and adjustment capabilities, stabilizing prices and expectations while providing continuous financing support for enterprises [3]. - A vibrant market attracts more social capital, serving as a reservoir for wealth preservation and appreciation, which in turn promotes the stability of the real economy and the capital market [3]. Group 3: Strategies for an Active Market - Increasing the attractiveness of listed companies is crucial, as they are the source of investment value in the capital market [4]. - There is a need to attract more long-term capital into the market to enhance activity and improve risk resistance [4]. - Continuous optimization of a healthy market ecosystem is essential, including strict measures against financial fraud and market manipulation, to create a favorable investment environment [4]. Group 4: Future Outlook - The combination of stability and activity will provide a solid foundation for the Chinese capital market to face risks and challenges ahead [5].