The Political Bureau of the CPC Central Committee held a meeting on July 30 to analyze and study the current economic situation and deploy economic work for the second half of the year. Ren Zhiqiang, assistant to the president of Huafu Securities and director of the Research Institute, said in an interview that macroeconomic policies in the second half of the year may enter a window of resonance between accelerated stocks and increased incremental growth. The conversion of old and new kinetic energy is expected to accelerate, and capital market reforms are expected to heat up. “The policy tone of this Politburo meeting is more positive, and the outline of the policy mix is more clear.” Ren Zhiqiang said that the policy base has been further consolidated. The conference clearly “stepped up countercyclical adjustment efforts”, and the signs of a shift in macroeconomic policy from “stability” to “progress” were clear, helping to boost market confidence and improve market expectations. Second, the term “speeding up the conversion of old and new kinetic energy” means that the policy of industrial transformation and upgrading may be further strengthened, and the direction of new quality productivity is the most definitive investment line in the medium to long term. At the same time, the domestic demand chain is expected to improve marginally. With faster fiscal spending, moderate monetary easing, and the accelerated implementation of the “Six Networks”, the infrastructure investment chain and service consumption chain are expected to usher in phased repair opportunities. Furthermore, capital market reforms are expected to heat up, and subsequent progress in capital market investment and financing reforms is worth looking forward to.

The Political Bureau of the CPC Central Committee held a meeting on July 30 to analyze and study the current economic situation and deploy economic work for the second half of the year. Ren Zhiqiang, assistant to the president of Huafu Securities and director of the Research Institute, said in an interview that macroeconomic policies in the second half of the year may enter a window of resonance between accelerated stocks and increased incremental growth. The conversion of old and new kinetic energy is expected to accelerate, and capital market reforms are expected to heat up. “The policy tone of this Politburo meeting is more positive, and the outline of the policy mix is more clear.” Ren Zhiqiang said that the policy base has been further consolidated. The conference clearly “stepped up countercyclical adjustment efforts”, and the signs of a shift in macroeconomic policy from “stability” to “progress” were clear, helping to boost market confidence and improve market expectations. Second, the term “speeding up the conversion of old and new kinetic energy” means that the policy of industrial transformation and upgrading may be further strengthened, and the direction of new quality productivity is the most definitive investment line in the medium to long term. At the same time, the domestic demand chain is expected to improve marginally. With faster fiscal spending, moderate monetary easing, and the accelerated implementation of the “Six Networks”, the infrastructure investment chain and service consumption chain are expected to usher in phased repair opportunities. Furthermore, capital market reforms are expected to heat up, and subsequent progress in capital market investment and financing reforms is worth looking forward to.