Core Viewpoint - The adjustment of the investment scope for pension funds, as announced by the Ministry of Human Resources and Social Security, is expected to significantly increase the capital inflow into the capital market, enhancing the interaction between the pension insurance system and the capital market [2][4]. Group 1: Policy Changes - The new policy allows for an increase in the upper limit of equity asset investment from 30% to 40% of the net asset value of the investment portfolio, theoretically bringing an additional 300 billion yuan into the capital market [2][4]. - Fund companies have begun to amend their pension product contracts to comply with the new regulations, expanding investment options to include Hong Kong market investments and various financial instruments [3][5]. Group 2: Market Impact - The increase in the equity investment ratio is expected to stabilize the capital market and facilitate the discovery of high-quality stock values, benefiting both the market and pension fund returns [2][4]. - The introduction of new investment categories, including preferred stocks and asset-backed securities, is anticipated to enhance the investment landscape for pension funds [5][6]. Group 3: Implementation and Future Outlook - The new regulations took effect on January 1, and several fund companies have already revised their investment strategies accordingly, indicating a practical implementation phase for the increased investment ratio [4][6]. - Experts suggest that the current market conditions, characterized by reasonable valuations and favorable liquidity, present an opportune moment for pension funds to enter the market [4][6].