LBX(SH:603883) Sou Hu Cai Jing·2025-10-21 01:46Core Insights - The stock market serves as a barometer for economic development, significantly impacting household wealth and consumer confidence [1] - The Chinese government emphasizes stabilizing the stock market as a key measure to enhance consumer confidence and broaden channels for property income [1][2] - As of October 10, 2025, the Shanghai and Shenzhen stock exchanges have seen significant trading volumes and index increases, indicating a recovery in investor confidence [1] Market Performance - The Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index have increased by 16.27%, 28.24%, and 45.37% respectively in 2025 [1] - Daily trading volumes have repeatedly exceeded 2 trillion yuan, reflecting a robust market environment [1] - New A-share accounts surpassed 20 million by October 13, 2025, marking a year-on-year increase of over 50% [1] Consumer Spending - Despite the stock market's rise, consumer spending growth remains lower than stock index increases, with per capita consumption expenditure rising by 5.3% year-on-year to 14,309 yuan [2] - The fluctuation in stock values directly affects household wealth and consumer willingness to spend, creating a psychological barrier to consumption [2] Stability Measures - To stabilize the stock market, four key areas need to be addressed: improving institutional frameworks, optimizing market mechanisms, enhancing investor protection, and strengthening policy coordination [2][3][4] - Institutional improvements should focus on transparent information disclosure and combating financial misconduct to build investor confidence [3] - Optimizing market mechanisms involves creating a multi-tiered capital market to facilitate financing for small and medium enterprises, thereby enhancing employment and income stability [3] Investor Protection - Strengthening investor protection is crucial to alleviate psychological burdens on consumers, including establishing compensation funds and promoting rational investment practices [4] - Enhanced investor confidence can lead to increased consumption, as individuals feel more secure in their financial investments [4] Policy Coordination - Coordinated monetary and fiscal policies are essential to ensure sufficient liquidity in the capital market and support for innovation and livelihoods [5] - A stable stock market aligned with macroeconomic policies can strengthen consumer confidence, transforming willingness to consume into actual spending [5]