事件点评：机构资金流入A股规模可能上升

Group 1 - The report predicts that the scale of institutional capital inflow into A-shares may increase, with annual average insurance capital inflow estimated at approximately 90 to 110 billion yuan, and potential incremental inflow ranging from 2 to 3.5 trillion yuan [4][7][9] - The report outlines that from 2025, large state-owned insurance companies are expected to allocate 30% of their newly added premiums to invest in A-shares, leading to an overall potential annual insurance capital inflow of about 90 to 110 billion yuan from 2025 to 2030 [4][7][9] - The report suggests that foreign capital is likely to maintain a net inflow trend, with the net inflow scale for 2025 estimated to be between 60 to 150 billion yuan, supported by policies encouraging foreign investment in A-shares [4][9][10] Group 2 - The report anticipates that the scale of public funds will further increase, with an expected addition of 300 to 500 billion shares in 2025, driven by a policy that mandates a minimum annual growth of 10% in the market value of A-shares held by public funds [4][12][14] - Historical data indicates that the new issuance of public funds is expected to grow annually, with various scenarios predicting new public fund shares in 2025 ranging from 330 to 500 billion shares depending on different growth rates [4][12][14] - The report highlights that the total market value of A-shares held by public funds could exceed 10 trillion yuan by 2026, reinforcing the stabilizing role of institutional investors in the equity market [4][12][14]