Securities Daily Front Page Commentary: The full release of policy effects will continue to consolidate the good momentum of economic recovery.

The article points out that from the perspective of economic theory and practical experience, the transmission of macroeconomic policies takes time, and the effects of implemented measures will continue to manifest. At the same time, the meeting of the Central Political Bureau of the CPC emphasized the importance of "maintaining policy continuity and stability, and enhancing flexibility and predictability", which means that the effects of future policies will further be released, thus better consolidating the momentum of the macroeconomic recovery. Firstly, a more proactive fiscal policy will further enhance economic resilience. Secondly, moderately loose monetary policy will further enhance economic vitality. Thirdly, the trend of stabilization and improvement in the capital market is expected to continue.