一揽子政策显效 资本市场向好势头持续巩固

Core Viewpoint - The Chinese government has launched a comprehensive set of policies aimed at stabilizing growth, markets, and expectations, signaling strong financial support for high-quality economic development [1][2]. Market Activity - The A-share market has seen daily trading volumes exceeding 3 trillion yuan, with total market capitalization reaching over 100 trillion yuan [2]. - The margin trading balance has risen to 2.4 trillion yuan, indicating increased investor engagement and optimism in the market [1][2]. - New investor accounts opened in August reached 2.6503 million, a 34.97% month-on-month increase and a 165% year-on-year increase, reflecting heightened investor interest [2]. Policy Impact - A series of financial policies implemented since September 24, 2023, have provided a solid foundation for market stabilization and confidence restoration [2][3]. - The introduction of various policies, including the "1+6" policy for the Sci-Tech Innovation Board and reforms for public funds, aims to enhance market resilience and depth [3]. Long-term Investment Strategies - Policies promoting long-term capital inflow, such as expanding insurance fund investment trials and implementing long-term assessments for public funds and pensions, are crucial for enhancing market vitality [3][6]. - The focus on improving the quality of listed companies and strict governance measures is expected to further stabilize the market and stimulate activity [6]. Legal and Regulatory Framework - Strengthening legal frameworks to combat fraudulent activities and ensure transparency is essential for maintaining a healthy market ecosystem [4][5]. - Regulatory measures are being implemented to optimize the behavior of market participants, contributing to high-quality market development [5]. Future Outlook - Continued reforms in capital markets, including enhancing the inclusivity of the Sci-Tech Innovation Board and the Growth Enterprise Market, are anticipated to further boost market stability and attractiveness [6]. - The emphasis on developing patient capital and improving the investment environment is expected to attract more long-term funds into the market [6].