东吴证券芦哲：明确的政策执行路径为市场注入强劲信心

Core Viewpoint - The recent financial policy package reflects the central government's accurate understanding of the macroeconomic situation, injecting strong confidence into the market [1] Group 1: Policy Impact - The policies are expected to enhance market expectations for new liquidity, aiming to stabilize the capital market in the short term [1] - The combination of total policy regulation and precise structural support is anticipated to promote steady development of the real economy and transition towards high-quality economic growth in the medium to long term [1] Group 2: Market Confidence - Clear policy logic, pragmatic content, and defined execution paths contribute to strong market confidence [1] - As policies are gradually implemented and yield results, the inherent stability of the capital market is expected to improve, potentially elevating China's high-quality economic development to a new level [1]