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Fourth, the potential challenges to the capital marketI. Providing a long-term and stable source of funds for the capital marketThe full implementation of the personal pension system will promote the high-quality development of the capital market. On the one hand, the inflow of personal pension will increase the capital scale of the capital market and improve the liquidity of the market; On the other hand, the long-term and stability of individual pension will encourage investors to pay more attention to value investment and reduce market speculation. This will help to improve the overall quality of the capital market and promote the long-term stable development of the market.

I. Providing a long-term and stable source of funds for the capital marketI. Providing a long-term and stable source of funds for the capital marketMajor positive! Personal pension system is expected to be fully implemented.

Second, promote product innovation in the capital marketSecond, promote product innovation in the capital market