9月政治局会议及关于长期资金入市新政的点评：隧道尽头见曙光，应更从容

Investment Rating - The industry rating is "Outperform the Market" [2] Core Viewpoints - The report emphasizes the importance of long-term capital entering the market, aiming to enhance market stability and investor structure [3][5] - The recent political bureau meeting highlighted the need to boost the capital market and support real estate stabilization [5] - The introduction of new policies is expected to improve the investment environment for long-term funds, including pension and insurance funds [3][6] Summary by Relevant Sections Industry Dynamics - The report discusses the unprecedented political bureau meeting focused on economic themes, aiming to address current economic challenges and enhance market confidence [2][5] - It outlines the government's commitment to improving the quality of listed companies and encouraging share buybacks [5][6] Long-term Capital Market Development - The report details measures to create a favorable environment for long-term investments, including allowing institutional investors to participate in strategic investments in listed companies [6][7] - It highlights the establishment of a three-year assessment mechanism for long-term funds, aiming to enhance their investment strategies [7][8] Public Fund Development - The report advocates for the development of equity public funds and the establishment of a fast-track approval process for ETF index funds [6][8] - It suggests lowering the comprehensive fee rates for public funds and promoting the regularization of investment advisory services [6][8] Policy Support - The report indicates that the government will support the reform of public funds and enhance the investment policies for social security and pension funds [6][8] - It emphasizes the need for differentiated investment strategies to meet the diverse wealth management needs of residents [8]