CDB Securities predicts that the A-share market will gather momentum in 2025, and the policy shift has far-reaching significance, and market expectations and confidence will be restored.Brokerage research:Macroeconomic policies:
700 billion yuan of ultra-long-term special treasury bonds have all been allocated to "double" projects, and the implementation will be accelerated, which will have an impact on infrastructure construction and economic development.700 billion yuan of ultra-long-term special treasury bonds have all been allocated to "double" projects, and the implementation will be accelerated, which will have an impact on infrastructure construction and economic development.Foreign exchange reserves and gold reserves:
Capital market dynamics:According to the data of the State Administration of Foreign Exchange, by the end of November, 2024, China's foreign exchange reserves were US$ 3,265.9 billion, up US$ 4.8 billion from the end of October, and its gold reserves also increased.Xinhua News Agency commented that the central government has a large room for borrowing and deficit improvement. Looking forward to the closing year of the 14 th Five-Year Plan in 2025, the space for fiscal policy development has attracted much attention.
Strategy guide 12-13
Strategy guide
Strategy guide
12-13