The Political Bureau of the CPC Central Committee held a meeting on December 8 and proposed that economic work in 2026 will “implement more active and promising macroeconomic policies.” In response, Yang Yehui, director of the Huajin Securities Research Institute, believes that the conference conveyed a clear and positive policy orientation, emphasizing that under the premise of integrated development and security, macroeconomic policies will continue to be strong and will pay more attention to accuracy and effectiveness. This has laid a solid policy foundation for the smooth start of the economy and high-quality development in the year the “15th Five-Year Plan” began. In response to market influence, Yang Yehui analyzed that setting the tone for this conference will have a positive impact on market sentiment. In the short term, clear policy reinforcement signals will help stabilize and raise market expectations for economic recovery and profit recovery. At the same time, a “moderately loose monetary policy” has further strengthened expectations of maintaining reasonable and abundant liquidity. These factors may jointly boost the spring market, and the spring market is expected to unfold ahead of schedule. In the medium to long term, if an active policy tone can effectively promote the recovery of the credit cycle and structural improvement of corporate profits, it will consolidate the logic of the slow rise in A-shares.

The Political Bureau of the CPC Central Committee held a meeting on December 8 and proposed that economic work in 2026 will “implement more active and promising macroeconomic policies.” In response, Yang Yehui, director of the Huajin Securities Research Institute, believes that the conference conveyed a clear and positive policy orientation, emphasizing that under the premise of integrated development and security, macroeconomic policies will continue to be strong and will pay more attention to accuracy and effectiveness. This has laid a solid policy foundation for the smooth start of the economy and high-quality development in the year the “15th Five-Year Plan” began. In response to market influence, Yang Yehui analyzed that setting the tone for this conference will have a positive impact on market sentiment. In the short term, clear policy reinforcement signals will help stabilize and raise market expectations for economic recovery and profit recovery. At the same time, a “moderately loose monetary policy” has further strengthened expectations of maintaining reasonable and abundant liquidity. These factors may jointly boost the spring market, and the spring market is expected to unfold ahead of schedule. In the medium to long term, if an active policy tone can effectively promote the recovery of the credit cycle and structural improvement of corporate profits, it will consolidate the logic of the slow rise in A-shares.