Societe Generale Wealth Management and Investment Research Department said on September 29 that the package of policies and measures announced this time exceeded expectations and had an obvious impact on the market. The magnitude and direction of subsequent fiscal policies are still worth looking forward to. Meanwhile, monetary policy easing has exceeded expectations. Policy interest rates were cut by 20 basis points at once, MLF cut by 30 basis points, downgraded by 50 basis points, and forecasted the next downgrade within the year. Until the end of the year, it is expected that the central bank will maintain a policy orientation of low interest rates and monetary easing. It is expected that market capital interest rates and NCD interest rates will gradually move closer to policy interest rates. At the same time, the Societe Generale Wealth Management Research Department said that the new monetary policy instruments actively support the stock market, provide financial support to non-bank financial institutions to invest in the stock market, and that the central bank's positive statement on scale also gives the stock market more room for imagination, which will constitute an important supplementary source of long-term capital for the stock market.

Societe Generale Wealth Management and Investment Research Department said on September 29 that the package of policies and measures announced this time exceeded expectations and had an obvious impact on the market. The magnitude and direction of subsequent fiscal policies are still worth looking forward to. Meanwhile, monetary policy easing has exceeded expectations. Policy interest rates were cut by 20 basis points at once, MLF cut by 30 basis points, downgraded by 50 basis points, and forecasted the next downgrade within the year. Until the end of the year, it is expected that the central bank will maintain a policy orientation of low interest rates and monetary easing. It is expected that market capital interest rates and NCD interest rates will gradually move closer to policy interest rates. At the same time, the Societe Generale Wealth Management Research Department said that the new monetary policy instruments actively support the stock market, provide financial support to non-bank financial institutions to invest in the stock market, and that the central bank's positive statement on scale also gives the stock market more room for imagination, which will constitute an important supplementary source of long-term capital for the stock market.