The recovery of the stock market in the Spring Festival is a good phenomenon. From the policy level and the internal requirements of the market, a hopeful capital market is of vital importance to China's economy.The capital market is the hub and bloodline of the modern financial system, the center of resource allocation, the stage for value discovery, and an important policy tool. Like the banking system and the exchange rate market, it is the core of the strategy of a major country and the key to modern national governance.Throughout the history of the development of domestic and foreign capital markets, experience and lessons have proved that the stable operation of the capital market must rely on the central bank's stable monetary policy and financial stability mechanism. The healthy development of the capital market and the building of security capabilities have historically been elevated to the level of national policy.As the second largest economy in China, the market value of the stock market is extremely disproportionate to GDP. At present, the belated “spring of hope” in the capital market is crucial to the reconstruction of confidence. We urgently need to establish a healthy Chinese capital market that matches the size and quality of the country, allowing investors to enjoy the wealth effect and have a sense of gain.
