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on tuesday (september 24), the “one bank, one commission and one bureau” issued a strong statement to release multiple policy benefits, adding confidence and vitality to the market. chinese assets such as a-shares, hong kong stocks and rmb are “rising like a rainbow”.

global funds pour into chinese assets

on september 24, the a-share and hong kong stock markets exploded collectively, driven by large financial stocks.the shanghai composite index surged 4.15%, the highest single-day gain in more than four years., the shenzhen component index rose more than 4%, and the chinext index closed up 5.54%.

behind the surge in the index, big financial stocks have exerted their strength.diversified financial sector led gains, liquor, securities, coal, steel and other sectors led the gains.

the trading volume of the two markets has increased significantly. among them, the trading volume of many csi 300 etfs, csi 500 etfs and csi 1000 etfs has increased significantly. in terms of trading volume,the total transaction volume of related index funds exceeded 40 billion yuan, and the cumulative daily transaction volume hit a new high in more than half a year, indicating that incremental funds entered the market to buy at the bottom.

the hong kong stock market also saw a sharp rise.hang seng index rose 4.13%, the state-owned enterprise index rose 5.09% and the hang seng technology index rose 5.88%.

the rmb exchange rate market also saw a sharp rise.the offshore rmb rose above the 7.03 mark against the us dollar, rising more than 400 points during the day。

on september 24, a rare scene occurred in the options market. with one trading day left for september etf options, some contracts rose more than 100 times in a single day.the 50etf option purchase of the september 2400 contract closed up 239 times, and the shanghai stock exchange csi 300etf purchase of the september 3400 contract closed up 164 times。

important meeting boosts market confidence

at the state council information office press conference held on september 24, the main leaders of the people's bank of china, the financial regulatory bureau, and the china securities regulatory commission introduced the relevant situation of financial support for high-quality economic development and answered questions from reporters. at the meeting, pan gongsheng, li yunze, and wu qing released multiple policy benefits, including a 0.5 percentage point reduction in the deposit reserve ratio in the near future; a reduction in the interest rate of existing mortgage loans and a unified minimum down payment ratio for mortgage loans. it is expected that the average reduction in the interest rate of existing mortgage loans will be around 0.5 percentage points.

in addition, pan gongsheng stated at the meeting that the initial operation scale of the securities, fund and insurance company swap facility is 500 billion yuan, and the funds obtained can only be used to invest in the stock market; guide commercial banks to provide loans to listed companies and major shareholders for the purpose of repurchasing and increasing holdings of listed company stocks.

wu qing mentioned the next key work measures of the csrc at the meeting, including the release of opinions on promoting the entry of medium- and long-term funds into the market, six measures to promote mergers and acquisitions, and market value management guidelines for listed companies. in addition, wu qing said that the csrc will support huijin investment to increase its investment and promote long-term funds to invest in the stock market.

the agency believes thatthe rrr cut, interest rate cut and existing mortgage rate adjustment were implemented, and new policy tools were introduced to support the stock market. the policy strength and pace exceeded expectations.after the meeting, a-shares and hong kong stocks collectively counterattacked, fully reflecting the market's positive response to the favorable policies.