Core Viewpoint - The upcoming press conference on September 22, 2024, will focus on the achievements of the financial industry during the "14th Five-Year Plan" period, with capital market development expected to be a core topic [1] Group 1: Policy Evolution - The three high-level press conferences within 363 days illustrate the shifting focus of capital market policies from stabilizing the market to establishing long-term mechanisms [2] - The People's Bank of China (PBOC) has introduced two new monetary policy tools: a 500 billion yuan "securities fund insurance company swap facility" and a 300 billion yuan "special re-loan for stock repurchase and increase" [2] - The China Securities Regulatory Commission (CSRC) is set to release guidelines to promote long-term capital inflow and reform mergers and acquisitions, including measures to enrich equity fund products and lower fees [2] Group 2: Market Changes - Since September 2024, the A-share market has undergone a significant value reassessment, with the Shanghai Composite Index rising 33.42% from 2863.13 points to 3820.09 points by September 19, 2025 [4] - The market's driving logic has shifted from policy expectations to performance growth, indicating a fundamental change in market dynamics [4] - The "14th Five-Year Plan" period has seen institutional breakthroughs, including the smooth implementation of a comprehensive registration system and improved IPO review efficiency [4] Group 3: Future Development - The upcoming press conference is anticipated to signal important reforms for the capital market, focusing on enhancing the quality of listed companies and optimizing trading mechanisms [5] - The capital market has transitioned from short-term volatility concerns to long-term development strategies, reflecting a more mature and stable policy framework [5] - The continuous and stable nature of these policies provides valuable certainty for the market, as it moves towards a more regulated, transparent, and resilient capital market [5]