政策东风起，长线资金加速入市！核心宽基又到配置期

Core Viewpoint - The recent announcement by the People's Bank of China and other regulatory bodies indicates a significant policy shift aimed at stimulating the economy and capital markets, particularly through monetary policy and capital market reforms [1][2]. Monetary Policy - The central bank has implemented a comprehensive reduction in the reserve requirement ratio by 0.5%, releasing approximately 1 trillion yuan in long-term funds, while also lowering policy interest rates by 10 basis points to 1.4% [2][3]. - Structural monetary tools, including the reduction of rates for specific loans, are designed to enhance medium to long-term funding supply and stabilize liquidity expectations [2]. Capital Market Reforms - The China Securities Regulatory Commission (CSRC) is focusing on optimizing the systems for the Sci-Tech Innovation Board and the Growth Enterprise Market, promoting high-quality development of public funds, and enhancing the long-term mechanisms supporting capital markets [3]. - The CSRC's initiatives are expected to provide stability and support for the market, particularly in the context of the new "National Nine Articles" policy and the overlapping trends of significant investment [3]. Investment Opportunities - The expansion of insurance funds for long-term investments is set to increase, with an additional 60 billion yuan in pilot investment quotas being approved, which is expected to boost the proportion of medium to long-term capital in the A-share market [3]. - The A500 index is highlighted as a favorable investment option due to its balanced industry representation and focus on emerging sectors, aligning with current economic development trends [5][6]. Market Sentiment - The combination of liquidity injection and supportive government signals is anticipated to elevate stock prices, particularly benefiting high-leverage sectors such as real estate, finance, and manufacturing [4]. - The low interest rate environment is expected to reduce corporate borrowing costs, enhancing profit expectations and encouraging a shift of funds from safe-haven assets to riskier equities [4].