Core Insights - The article highlights the positive developments in the US-China economic talks, which have led to significant consensus and optimistic signals for the market [3] - The dividend season in the A-share market typically occurs from May to July, with a historical probability of over 60% for the dividend index to rise in May [3] - The decline in bond market yields has resulted in a new high for the dividend index's earnings yield premium (ERP), indicating strong short-term absolute return potential and stable long-term returns [3] Market Performance - The Dividend ETF for State-Owned Enterprises (530880) increased by 0.20%, with notable gains in component stocks such as COSCO Shipping Holdings (601919) up by 1.94%, Xiamen International Trade (600755) up by 1.91%, and Bank of Communications (601328) up by 1.60% [3] - The banking sector in the A-share market has been reaching historical highs, with the dividend sector performing well due to policy-driven incremental capital inflows [3] Policy Impact - The recent expansion of insurance capital market pilot programs by the Financial Regulatory Bureau is expected to channel an additional 600 to 800 billion yuan into high-dividend assets over the next three years [3] - This policy is anticipated to provide long-term benefits to the fundamentals of large-cap value, dividend, and state-owned enterprise sectors [3] Index Composition - The Dividend ETF for State-Owned Enterprises closely tracks the Shanghai Stock Exchange State-Owned Enterprises Dividend Index, which includes 30 securities with high cash dividend yields, stable dividends, and significant scale and liquidity [3]