Key meeting lays out long-term plan for economic work
Capital market
The RMB exchange rate shall be kept generally stable at an appropriate and balanced level, and efforts will be made to invigorate the capital market and boost investor confidence.
Many people in the capital market, especially the stock market, hold a wait-and-see attitude, which needs to further activate to enhance investor confidence and stabilize investor expectations, said Zhao Xijun, a finance professor at Renmin University of China.
To invigorate the capital market means the next stage of capital market reform will focus on strengthening wealth management to satisfy strong demand for residents' wealth preservation and appreciation, as well as optimizing asset allocation and accelerating the repair of residents' balance sheets to expand domestic demand, said Luo Zhiheng, chief economist at Yuekai Securities.
