Group 1 - The A-share market has shown a steady upward trend since the implementation of a series of policies by regulatory authorities, with the Shanghai Composite Index rising from around 2900 points [1] - China's macroeconomic performance has been strong, with a GDP growth of 5.3% year-on-year in the first half of the year, supported by stable manufacturing supply and expanding market demand [1][2] - The introduction of new policies, such as the "New National Nine Articles," has improved the capital market ecosystem and enhanced market resilience, facilitating the entry of long-term funds [1][3] Group 2 - Investor confidence has significantly increased due to the gradual improvement of market systems, with listed companies enhancing governance and expanding stock buybacks and dividends [2] - The average dividend payout ratio for A-share listed companies in 2024 is projected to be 39%, with 1411 companies having an average payout ratio greater than 40% over the past five years [2] - A total of 466 listed companies have maintained an average dividend yield of over 3% in the past three years, with 133 companies exceeding 5% [2] Group 3 - The strategic reserve and stabilization mechanisms of the capital market are being strengthened, with the Central Huijin Investment Ltd. acting as a stabilizing force [3] - As of August 23, over 80% of the 1660 companies that disclosed mid-year reports achieved profitability, indicating resilience in the macroeconomic recovery [3] - The ongoing policies and multi-dimensional measures are expected to ensure the capital market's stability and resilience against extreme shocks [4] Group 4 - The capital market is evolving to accommodate reasonable fluctuations while resisting extreme shocks, supported by long-term funds and innovative tools for counter-cyclical adjustments [4] - Continuous policy efforts are transforming short-term stability into long-term foundational momentum, enhancing the capital market's ability to serve the real economy and support technological innovation [4]
多维度措施协同发力 资本市场行稳致远
Jin Rong Shi Bao·2025-08-25 02:33