Confidence is worth a thousand dollars.
After the meeting of the Financial Committee of the State Council, the market confidence was strongly boosted, and the A shares swept away the haze of the past few days and rebounded strongly in a row.
During this period of time, A-shares adjusted sharply, and the one-day drop was rare in recent years, and the market was shrouded in dark clouds.
The reason is that, on the one hand, the global epidemic continues to spread, international geopolitical conflicts are escalating, financial markets are volatile, and the external environment is more complex, severe and uncertain.
On the other hand, the domestic economic development is facing triple pressure, and the recovery momentum has yet to be consolidated.
Of course, this situation is also driven by emotions.
It is normal for the stock market to go up and down, but the recent trend of A-shares has clearly deviated from the fundamentals. No matter from the perspective of the breadth and depth of my country's economic development, or the market itself, it is not enough to make such a sharp adjustment of A-shares.
From a policy perspective, since the beginning of this year, the central government has repeatedly released signals of stable growth. The National People’s Congress and the National People’s Congress have further strengthened the expectation of stable growth, clarifying the expected GDP growth target of around 5.5% for the whole year, releasing confidence and confidence in medium and high-speed growth.
Under the main tone of the year's economic work of "stabilizing the word and seeking progress while maintaining stability", macro policies are bound to be proactive and proactive.
From a macroeconomic point of view, my country's economy continues to maintain a stable and sound momentum.
The data just released for the first two months shows that positive changes in economic performance have increased, macro indicators such as employment, prices, and balance of payments have remained within a reasonable range, high-tech industries have developed well, and the economic structure has continued to optimize. The fundamentals have not changed.
From the perspective of the ecology of the capital market, with the full implementation of the registration system, the reform of the capital market continues to advance in depth.
Positive results have been achieved in improving the quality of listed companies, the investment force of professional institutions has continued to grow, new progress has been made in international regulatory cooperation, the securities enforcement and judicial systems and mechanisms have been further improved, and the ability to resist risks has been continuously enhanced.
Several key dimensions show that the underlying logic of A-share market investment is still solid.
This reflects from the side that under the disturbance of external factors, excessively pessimistic expectations have stirred the mood of some investors, and the market risk appetite has declined.
Investors expect authoritative voices to clarify the policy context, and urgently need clear and clear signals to regain confidence.
The market calls, and the policy responds.
The State Council Finance Committee meeting conveyed a clear signal of policy direction, emphasizing that insisting on development is the first priority of the Party in governing and rejuvenating the country, and insisting on economic construction as the center.
Relevant departments are required to earnestly undertake their own responsibilities and jointly maintain the stable development of the capital market.
The People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and other departments quickly convened meetings to introduce a package of policy measures to stabilize the economy, the market, and expectations, and maintain a clear and firm attitude to maintain the stable operation of the capital market.
Confidence requires care, and confidence also requires persistence.
Historical experience shows that external risks will not fundamentally change the existing trend of market operation.
For some time to come, the global epidemic is expected to continue, the prospect of geopolitical conflicts is still to be clear, and many risks and challenges remain.
At this point in time, investors should be more calm and rational, have firm belief in the long-term improvement of China's economy, and have firm confidence in the central government's determination and ability to stabilize growth.
As long as you clearly see the direction you are going and follow your own rhythm, you will not be disturbed by short-term and external negative factors.