China's A shares soared on Monday, the Shanghai stock index rose more than 3% and broke 3300 points

  China News Agency, Beijing, July 20 (Reporter Chen Kangliang) On the 20th, China's A shares rose sharply, and the four major stock indexes all strengthened. Among them, the Shanghai Composite Index rose more than 3%, breaking the 3300 mark.

  As of the close of the day, the Shanghai Composite Index reported 3314 points, an increase of 3.11%, with a turnover of 544 billion yuan (RMB, the same below); the Shenzhen Stock Exchange Index reached 13448 points, an increase of 2.55%, and a turnover of 649 billion yuan; the small and medium-sized board index reported 8972 points, an increase 2.42%; GEM Index reported at 2697 points, up 1.31%.

  Gui Haoming, chief market expert of Shenwan Hongyuan Securities Research Institute, said that the rise in A shares today was mainly due to a long period of adjustment last week. The market experienced a certain degree of technical rebound, coupled with more recent good news, including the relaxation of insurance by regulators. Restrictions on funds entering the market have boosted the market.

  China Banking and Insurance Regulatory Commission recently announced the "Notice on Optimizing the Supervision of Insurance Companies' Equity Asset Allocation", setting a differentiated equity asset investment supervision ratio. Based on indicators such as the solvency adequacy ratio of the insurance company, asset and liability management capabilities and risk status, the eight-tier equity asset supervision ratio is clarified, which can account for up to 45% of total assets at the end of the previous quarter.

  In this regard, Zhang Chuangwei, an analyst with Huachuang Securities, said that the above new regulations have generally increased the equity investment ratio of insurance funds, and China's capital market is expected to usher in incremental long-term funds. According to the current balance of insurance funds, if the insurance capital is increased by 1% of the listed equity investment, it will bring nearly 200 billion yuan of incremental funds to the market.

  In terms of specific sectors, most A-share industry sectors rose on the day. Among them, the brokerage sector rose more than 5%, the highest increase. (Finish)