Some personal opinions on the State Council press conference on October 8th.

First of all, I am still bullish on the trend of the A-share bull market this time. Personally, I also believe that our country's economy will remain stable and improve, with stability leading to progress and development.
The following are some key points of the press conference:
1. Two news, large-scale equipment updates, consumer goods replacement
In terms of subsidies for replacing old home appliances, in addition to 8 categories of nationally designated products such as refrigerators, washing machines, televisions, and air conditioners, Guangxi has added 7 new categories of products including dishwashers, steam ovens, floor-sweeping robots, smart door locks, and smart toilets, increasing the subsidy for home appliances to 15 categories. Guangxi also introduced for the first time a subsidy program for replacing old electric bicycles with new ones.

Not very optimistic, most of these products are high-end durable goods. The high expenses and transportation costs are one aspect. These second-hand home appliances will not be resold, so will the handling of these second-hand home appliances save energy, be low-carbon, and environmentally friendly? These things are not essential items for daily life and will not have a significant impact on consumption.

2. Expand retirement and childcare service consumption.
The fundamental issue of an aging population lies in the severe shortage of newborns, but I believe the key problem is the insufficient guarantee system, with the retirement and childcare pressures being too high. Policy support may benefit the medical industry.

3. Do not randomly impose fines, conduct inspections, or seal off properties.
This indeed greatly helps the production of enterprises by reducing random sealing off and inspections, as well as abuse of power for personal gain.

4. Promote real estate to stabilize and stop declining.
Lower mortgage rates, revitalize existing land through special bond issuance, adjust housing purchase restrictions, and digest inventory of commercial housing. I really am not bullish, real estate investment must still be approached cautiously.

Boost the capital markets.
Guide the entry of medium-to-long-term funds into the market, support the entry of insurance companies into the market, and reform public funds. It can only be said that the implementation of policies is eagerly awaited.

Attracting foreign investment.
Cliché, lacking substantial content.

7. 5% economic growth target.
Summarized the above points, with a growth rate of 5% in the first half of the year, stable development in the third quarter, and a continuous emergence of comprehensive incremental policies. No substantial content either. Personally, I am bullish that this year's paper growth rate can reach 5%.

8. Full employment.
Increase employment growth points, enhance the effect of emerging industries, and expand the employment space of the service industry. This year's number of graduates is 12 million, and I feel that the unemployment rate will not be greatly improved.

9. Ensuring energy security and stabilizing the prices of daily necessities.
Coal production is stable, power plants have sufficient coal reserves, the national installed capacity of electricity reaches 3.13 billion kilowatts, and more than half of the power generation capacity comes from renewable energy. There is an increase in grain production, and pork production is at a reasonable level. It is good to appropriately control the price growth rate while there is economic and wage growth. The fear is if prices rise, the paper economy rises, wages do not rise, leading to high employment pressure, inability to afford houses, raise children, and if the stock market is still in the red, that would truly be impressive.