Xun Yugen, chief economist at Haitong Securities and director of the research institute, said that Xun Yugen believes that the recent package of policies will help restore demand in the real economy and boost investor confidence. The mid-level market is already on the way, and the pace and space need to track the implementation of fiscal policies. The biggest highlight of a series of recent policies is to face up to some new situations and problems in the current economic operation, face up to difficulties, have firm confidence, and effectively enhance the sense of responsibility and urgency to do a good job in the economy. This shows that the future of the policy can still be expected. Recent policies focused on the housing market and stock market seem to be dealing with shrinking residents' balance sheets; the ultimate goal should be to restore domestic demand. The stock market declined for a long time and there was plenty of room. Both absolute and relative valuations were at historically low levels. There was a clear shift in policy, and the mid-level market is already on the way. Looking back at history, it can be seen that every round of the mid-level market will have a main line, such as high dividends and export chains from early February to May 2024, AI and mid-special estimates from the end of 2022 to May 2023, new energy from the end of April to July 2022, and the GEM and technology categories from January to April 2019. The main lines are different every time. This time, emphasis is placed on real estate and consumer medicine.

Xun Yugen, chief economist at Haitong Securities and director of the research institute, said that Xun Yugen believes that the recent package of policies will help restore demand in the real economy and boost investor confidence. The mid-level market is already on the way, and the pace and space need to track the implementation of fiscal policies. The biggest highlight of a series of recent policies is to face up to some new situations and problems in the current economic operation, face up to difficulties, have firm confidence, and effectively enhance the sense of responsibility and urgency to do a good job in the economy. This shows that the future of the policy can still be expected. Recent policies focused on the housing market and stock market seem to be dealing with shrinking residents' balance sheets; the ultimate goal should be to restore domestic demand. The stock market declined for a long time and there was plenty of room. Both absolute and relative valuations were at historically low levels. There was a clear shift in policy, and the mid-level market is already on the way. Looking back at history, it can be seen that every round of the mid-level market will have a main line, such as high dividends and export chains from early February to May 2024, AI and mid-special estimates from the end of 2022 to May 2023, new energy from the end of April to July 2022, and the GEM and technology categories from January to April 2019. The main lines are different every time. This time, emphasis is placed on real estate and consumer medicine.