中国版平准基金入市点评：平抑过度恐慌，助力长期慢牛

Core Insights - The report emphasizes the role of the central government and state-owned enterprises in stabilizing the A-share market amidst recent volatility, particularly following significant declines in major indices due to external pressures [1][2] - The central government, through the Central Huijin Investment Ltd., has expressed confidence in the long-term prospects of the Chinese capital market and has committed to increasing investments in exchange-traded funds (ETFs) to support market stability [1][2] - The report suggests that the current market downturn presents an opportunity for long-term investment, particularly in sectors such as consumption, agriculture, and technology innovation, which are expected to benefit from government policies and economic recovery [3] Market Performance - As of April 7, 2025, the A-share market experienced significant declines, with the Shanghai Composite Index dropping by 7.34%, the Shenzhen Component Index by 9.66%, and the ChiNext Index by 12.5%, indicating widespread market pessimism [1][6] - The report highlights that over 5,284 companies saw declines, with 3,038 stocks hitting their daily limit down, reflecting a severe market reaction to external economic pressures [1] Strategic Recommendations - The report advises investors to remain optimistic and seek entry points during market adjustments, particularly focusing on sectors with strong earnings reports and those benefiting from policy support [3] - It encourages a gradual shift towards high-quality technology innovation stocks once the market stabilizes, indicating a long-term investment strategy [3]