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(3) Big A ushered in a big profit that exceeded expectations, and strong stocks rushed to the board with a high probability; However, beware of short-term capital diversion of high-profile popular stocks, and differences will aggravate the high ebb and flow. Under the heavy stimulus, the market index is expected to challenge the pressure in the range of 3500-3674 during the year. The favorable policies focus on the property market (related references: China Merchants Shekou, Poly Group, Gemdale, etc.) and the stock market (related references: Oriental Fortune, Compass, Everbright Securities, etc.). Risk warning: Be careful to prevent the short-term consistency of the market from being too strong, resulting in poor expectations of falling back.(1) the Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting on December 9 to analyze and study the economic work in 2025; The meeting pointed out that a more active fiscal policy and a moderately loose monetary policy should be implemented next year to boost consumption, improve investment efficiency and expand domestic demand in all directions. The meeting emphasized the implementation of more proactive macro policies, expanding domestic demand, promoting the integration of scientific and technological innovation and industrial innovation, and stabilizing the property market and stock market. The overall tone of the meeting's economic policy for next year means that China's stance on monetary policy has changed from "prudent" to "moderately loose" for the first time in more than ten years. [The policy has greatly stimulated China's soaring assets, China's stock market has soared, and China has tripled its long position by more than 20%]

(1) the Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting on December 9 to analyze and study the economic work in 2025; The meeting pointed out that a more active fiscal policy and a moderately loose monetary policy should be implemented next year to boost consumption, improve investment efficiency and expand domestic demand in all directions. The meeting emphasized the implementation of more proactive macro policies, expanding domestic demand, promoting the integration of scientific and technological innovation and industrial innovation, and stabilizing the property market and stock market. The overall tone of the meeting's economic policy for next year means that China's stance on monetary policy has changed from "prudent" to "moderately loose" for the first time in more than ten years. [The policy has greatly stimulated China's soaring assets, China's stock market has soared, and China has tripled its long position by more than 20%]