英大宏观点评（2024年第4期，总第4期）：引入中长期资金有利A股稳定发展

Group 1: Market Overview - The introduction of long-term funds is beneficial for the stable development of A-shares[1] - The U.S. economic slowdown has exceeded expectations, affecting the performance of domestic stock markets[2] - The shift towards long-term funds will alter the current capital allocation structure, reducing reliance on debt and enhancing stock market performance[2] Group 2: Policy Recommendations - The central financial office and the China Securities Regulatory Commission have issued guidelines to promote long-term capital market participation[1] - Key measures include improving the quality of listed companies and encouraging share buybacks[2] - Development of equity public funds and support for private fund growth are emphasized, with a focus on enhancing investor returns[2] Group 3: Investor Impact - Increased inflow of long-term funds will strengthen investor demands for listed company quality, leading to better value management and investor protection[3] - The long-term investment philosophy of these funds may shift market behavior from speculation to value investing, potentially narrowing long-term market volatility[2]