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While resolving the crisis, local governments have much to offer.I pay special attention to four important meetings these days.First, implement more active and promising macro policies to stabilize the property market and stock market. The Central Economic Work Conference clearly stated that more active and promising macro policies should be implemented next year to expand domestic demand and stabilize the property market and stock market. This shows that the government will improve the effectiveness of macro-control through unconventional countercyclical adjustment of fiscal and monetary policies.

The decision-makers have firm and clear confidence in the stability of the property market and the stock market.This is the reason why consumer stocks have risen.Third, moderately loose monetary policy, timely RRR cuts and interest rate cuts. Politburo meeting of the Chinese Communist Party proposed to implement a moderately loose monetary policy, which is the policy tone put forward again after many years. It is expected that there will be greater interest rate cuts and RRR cuts next year. The adjustment of the expression of monetary policy from "steady" to "moderately loose" means that China will continue to adhere to a supportive monetary policy stance and maintain a reasonable and sufficient liquidity.

The decision-makers have firm and clear confidence in the stability of the property market and the stock market.This is the reason why consumer stocks have risen.Four important messages from important meetings are the most powerful support for the slow bull market in the stock market.