非银金融：国新办新闻发布会政策点评-政策有望提振市场信心，催化板块beta行情

Investment Rating - The industry investment rating is "Outperform the Market," indicating that the industry index is expected to perform better than the benchmark index over the next 6-12 months [6]. Core Viewpoints - The recent policy announcements from the government are expected to boost market confidence and catalyze a beta rally in the brokerage sector, particularly benefiting "Internet+" brokerages [2][3]. - The introduction of new financial support policies is anticipated to bring in incremental capital, enhancing trading activity and improving the fundamentals of brokerages [2]. - The establishment of swap convenience tools is expected to expand the funding sources for brokerage proprietary trading, with an initial operation scale of 500 billion yuan [2]. - Long-term improvements in the business environment for brokerages are expected, driven by the introduction of patient capital and enhanced regulatory support for mergers and acquisitions [2]. Summary by Sections Market Dynamics - The market is expected to see increased trading activity due to the introduction of new capital market policies, which will bring in incremental funds specifically for stock market investments [2]. - The policies include measures such as stock buyback loans and the creation of swap convenience tools, which are designed to enhance liquidity in the market [2]. Brokerage Sector Outlook - The brokerage sector is projected to experience a significant recovery in fundamentals, supported by the influx of new capital and improved market conditions [2]. - The focus on mergers and acquisitions remains a key investment theme, with brokerages that have strong capital bases and M&A experience likely to achieve better outcomes [3]. Long-term Growth Factors - The introduction of long-term capital from various financial institutions is expected to enhance the stability of the capital market and support the growth of brokerage services [2]. - Regulatory measures aimed at improving the quality of listed companies and encouraging share buybacks are anticipated to enhance investor sentiment and overall market performance [2].