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"Implement a more proactive fiscal policy and a moderately loose monetary policy, enrich and improve the policy toolbox, and strengthen unconventional countercyclical adjustment."This is beyond my expectation. Although I maintain the view that A shares are entering a bull market, my friends who have been watching it know that I am pessimistic.First of all, the word "positive" in previous years was changed to "more positive". The last time this statement was put forward was in 2020, and everyone knew what happened at that time. This time, I am more active and spend money in the market.

In my opinion, in terms of capacity, today's science and technology innovation board is not as good as Beijing Jiao Tong 50, but in the long run, it may not be."Implement a more proactive fiscal policy and a moderately loose monetary policy, enrich and improve the policy toolbox, and strengthen unconventional countercyclical adjustment."In my opinion, in terms of capacity, today's science and technology innovation board is not as good as Beijing Jiao Tong 50, but in the long run, it may not be.

What about science and technology innovation board and Beijiao 50, which I am optimistic about?How to judge whether it is less than expected? It is very simple. If the high-end large-cap stocks such as banks, oil and coal rise, it will be bad. If the large-cap stocks rise and the index rises (28 differentiation), but the small and medium-cap stocks do not rise, it will also be bad. This is the big money to pull the large-cap stocks up to cover the shipment of individual stocks. And vice versa.And this passage also added the word "extraordinary countercyclical adjustment", which appeared for the first time in history! Note that this is also the first time, and supernormal means exceeding expectations!