一揽子政策落地显效 中长期资金筑牢稳市根基

Group 1 - The core viewpoint emphasizes the significant improvement in market expectations and confidence following the implementation of comprehensive financial support measures for high-quality economic development since September 24, 2024 [1] - The China Securities Regulatory Commission (CSRC) aims to consolidate the positive momentum in the capital market, enhancing its attractiveness and inclusivity while advocating for long-term, value, and rational investment [1][6] - The combination of regulatory guidance and market support is transitioning from passive responses to proactive management, focusing on the consistency of macro policy orientation [3] Group 2 - The capital market has seen a notable increase in asset prices, with over 500 listed companies and major shareholders announcing stock repurchases, totaling more than 120 billion yuan in loans for buybacks [2] - The introduction of structural monetary policy tools, such as stock repurchase loans, has provided low-cost funding to market participants, helping to stabilize the market during periods of undervaluation [2] - The inflow of medium- and long-term funds is crucial for maintaining the long-term stability of the market, with significant investments from insurance companies and public funds [4][5] Group 3 - The CSRC plans to deepen capital market reforms and enhance the policy framework to support long-term capital and patient capital, aiming to create a favorable environment for medium- and long-term investments [6] - The establishment of long-cycle assessment mechanisms for fund performance is expected to shift institutional investors' focus towards the fundamentals and long-term potential of companies [5] - Continuous efforts to improve the quality of listed companies and enhance shareholder returns through dividends and buybacks are essential for attracting long-term capital [6]