new cryptocurrency release 2021 list, Top stories

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.Policy expectation:Policy expectation:

The audit authority of local government special debt projects may be delegated to the provincial level, and 12 provinces are expected to land, which may affect the financial operation and investment projects of local governments.The market expects that the Central Economic Work Conference will be held in December, which may release more favorable policies and support the A-share market.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.

In terms of capital, the Shanghai and Shenzhen 300 and A500 indexes have seen capital outflows, but the inflow of financing has increased and the outflow of foreign capital has increased, showing the shock and wait-and-see attitude of market funds.Analysts believe that although there are downward trend pressures, annual line pressures and early lock-up pressures in technology, the market trend is strong, and these pressures may be broken if incremental funds enter the market.Brokerage research: