External interference is limited, and China's asset attractiveness remains unchanged.

In the early morning of May 8th, Beijing time, the Federal Reserve announced its latest interest rate decision, announcing that it would maintain the current interest rate level unchanged in the face of increased risks of rising inflation. Just before the Fed made the above decision, the heads of the People's Bank of China, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission announced a package of countercyclical adjustment policies on May 7th, sending out a strong signal to stabilize the market and expectations, which received high market attention. In the view of industry insiders, the Fed is currently in a dilemma, finding it difficult to boost market confidence in U.S. assets through strong policy measures; in contrast, the Chinese government's intention to stabilize the economy and the market with favorable policies is very clear, making Chinese asset allocation increasingly attractive, and in the long term, its valuation is also expected to see a systemic improvement.