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on the morning of september 24, the state council information office held a press conference for the financial sector with a series of important information. not only will it introduce powerful policies such as lowering the reserve requirement ratio, interest rates, and reducing existing mortgage loans, but the central bank also said for the first time that it will create new monetary policy tools to support the stable development of the stock market. the china securities regulatory commission will launch a number of new measures to promote the entry of long-term funds into the market and enhance the value of listed companies.

pan gongsheng, governor of the people's bank of china, announced three important policies at the beginning of the press conference: first, lowering the reserve requirement ratio and the policy interest rate, and driving the market benchmark interest rate downward; second, lowering the interest rate on existing mortgage loans and unifying the minimum down payment ratio for mortgage loans; third, creating new monetary policy tools to support the stable development of the stock market.

wu qing, chairman of the china securities regulatory commission, said that the "guiding opinions on promoting the entry of medium- and long-term funds into the market" will be issued in the near future, and a series of arrangements will be issued to support the entry of medium- and long-term funds into the market. the china securities regulatory commission has also formulated the "six mergers and acquisitions", namely the "opinions on deepening the reform of the merger and acquisition market of listed companies", to support corporate mergers and acquisitions and further promote the effective allocation of resources. at the same time, wu qing said that the china securities regulatory commission will publicly solicit opinions on the market value management guidelines in the near future, and will work with relevant ministries and commissions to promote the establishment of a market-based incentive and constraint mechanism for the repurchase of listed companies' shares, stimulate the endogenous motivation of major shareholders, senior executives and other relevant entities of listed companies, and further enhance the investment value of listed companies.

the policy package was introduced, which boosted the market immediately. as of the close, the shanghai composite index rose by 4.15%, the shenzhen component index rose by 4.36%, and the chinext index rose by 5.54%. the trading volume of the shanghai and shenzhen stock markets increased significantly, exceeding 970 billion yuan.