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the recently held political bureau meeting of the cpc central committee proposed that efforts should be made to boost the capital market. from the proposal of "activating the capital market" at the meeting of the political bureau of the cpc central committee in july last year to this year's "boosting the capital market", it has released a strong signal requiring all parties to be more proactive and responsible, highlighting the great importance that the party central committee attaches to the capital market. .

the capital market connects thousands of industries and households. it is an important hub for allocating financial resources and plays an important role in the stable operation of the macro economy. especially in the face of multiple challenges such as expanding domestic demand, stabilizing growth, and improving confidence, an active capital market is needed to empower enterprises to innovate and move forward, and to assist industrial transformation and upgrading.

since the beginning of this year, affected by multiple factors, the performance of the a-share market has been weak, market trading sentiment has been relatively sluggish, and some investors' expectations have been unstable and their confidence has been frustrated. if there is no timely and effective boost, it will not only restrict the normal performance of the stock market's investment and financing functions, but may also drag down the overall social expectations, thereby affecting the realization of the annual economic and social development goals and tasks, and is not conducive to higher-quality economic development.

the requirement to "boost the capital market" is a pragmatic and strategic move that focuses on the current trend, responds to the call of the market in a timely manner, and uses boosting the capital market as a starting point to boost confidence, stabilize expectations, and promote development.

the capital market is a place where expectations are traded, and the key to boosting the capital market is to boost expectations. based on the current situation, it is urgent to speed up the launch of a number of policy measures that can be implemented and achieve practical results. relevant departments have implemented various policies, announcing reductions in deposit reserve interest rates, existing mortgage rates, and down payment ratios for second homes, and creating structural monetary policy tools to support the capital market. a series of policy "combination punches" have been jointly launched, bringing real benefits. it has played a role in repairing market expectations and stimulating enthusiasm for trading. it is expected that subsequent financial policies will strengthen linkage and coordination with fiscal policies, accurately focus on important issues that investors and the market are concerned about, implement a number of highly targeted and operational reform measures in a timely manner, and work together to protect the stable and healthy operation of the market. .

taking a long-term view, persisting in reform and opening the way, improving the basic system of the capital market, and creating a fair, just, standardized and transparent market environment are fundamental supports. in this regard, this meeting has given a clear path, that is, "vigorously guide medium and long-term funds to enter the market, and open up the blocking points for social security, insurance, financial management and other funds to enter the market. we must support the mergers, acquisitions and reorganizations of listed companies and steadily advancepublic fundsreform, study and introduce policies and measures to protect small and medium-sized investors." these are prescriptions for the current pain points and difficult problems in market development. relevant departments must follow the deployment of the meeting, use greater efforts to promote the deepening and solidification of capital market reform, and continue to strengthen the foundation and pillars will enhance the inherent stability of the capital market and better help stabilize the economy, market, and expectations.

the fundamental strategy is to maintain determination, grasp the general trend of development, strengthen development confidence, and continuously consolidate and enhance the economic recovery and positive trend. as a "barometer" of the economy, the long-term trend of the capital market is closely related to the macroeconomy. at present, the basic trend of my country's economic recovery and long-term improvement has not changed. at the same time, it is also facing some new situations and problems. all departments and regions must view the current economic situation comprehensively, objectively and dialectically, strengthen confidence, face up to difficulties, truly implement the measures of the party central committee on economic and financial work, continue to increase macro-policy regulation, strengthen policy coordination, and promote various business entities. release endogenous power and innovation vitality, and realize the integration of capital market andreal economypositive interaction and common development.

only by combining the near and far, treating both the symptoms and root causes, making precise efforts on the policy side, deepening reforms on the market side, and promoting continued improvement in fundamentals can we help boost morale and popularity in the capital market. a capital market with active trading and full confidence will also improve social expectations, boost development confidence, and better "transmit oxygen and blood" to the real economy. (author: li hualin source: economic daily)