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The latest release of Shanghai Stock ExchangeThe relevant person in charge of the Monetary Policy Department of the People's Bank of China said that next year, we will deepen the market-oriented reform of the exchange rate, strengthen the management of exchange rate expectations, effectively respond to external shocks, resolutely guard against the risk of exchange rate overshoot, and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. The People's Bank of China will also improve the overall effectiveness of policies in accordance with the requirements put forward by the Central Economic Work Conference.Today, the market suddenly fell in volume, which caught everyone off guard. Many friends are still at a loss at the moment and don't know how to deal with it. If we can't grasp the key points of trends and turning points, we will inevitably lose our way like headless flies, hit a wall everywhere and let ourselves fall into unnecessary passivity. The purpose of our analysis is to help you see the current trend clearly and face the short-term complex trend calmly. Today's plunge has made everyone nervous again, so will the market continue to adjust next week? Or stop falling and rebound? Let's make a detailed analysis below, hoping to help everyone.

The national conference on development and reform was held in Beijing. The conference emphasized that we should increase the countercyclical adjustment of macro policies, implement more active macro policies, enhance the consistency of macro policy orientation, and do a good job in economic propaganda and expected guidance. Expand domestic demand in all directions. We will do a good job in the "two new" work, implement special actions to boost consumption, and promote consumption expansion, quality improvement and efficiency improvement. Promote the further and comprehensive deepening of the implementation of reform measures. Focus on important areas and key links to carry out key reforms. Focus on the construction of a unified national market and revise and introduce a new version of the negative list of market access. Intensify efforts to promote the development of the private economy and promote the promulgation of the Private Economy Promotion Law as soon as possible. Vigorously support the high-quality development of manufacturing industry, accelerate the development of emerging industries and the cultivation of future industries, and do a good job in the high-quality development of digital economy.The national conference on development and reform was held in Beijing. The conference emphasized that we should increase the countercyclical adjustment of macro policies, implement more active macro policies, enhance the consistency of macro policy orientation, and do a good job in economic propaganda and expected guidance. Expand domestic demand in all directions. We will do a good job in the "two new" work, implement special actions to boost consumption, and promote consumption expansion, quality improvement and efficiency improvement. Promote the further and comprehensive deepening of the implementation of reform measures. Focus on important areas and key links to carry out key reforms. Focus on the construction of a unified national market and revise and introduce a new version of the negative list of market access. Intensify efforts to promote the development of the private economy and promote the promulgation of the Private Economy Promotion Law as soon as possible. Vigorously support the high-quality development of manufacturing industry, accelerate the development of emerging industries and the cultivation of future industries, and do a good job in the high-quality development of digital economy.Judging from the content of the meeting, we need to focus on three aspects, one is to continue to boost consumption, the other is to promote the development of private economy, and the last is to develop high technology. Combined with the current market situation, it can be seen that the consumption line will continue. Even if the short-term increase is too large and there is adjustment, the high probability will not end here, because from the monthly trend of individual sectors, there is still room for further increase, but we need to remind everyone that when the short-term increase is too large and too fast, remember to stop and not be impulsive.

The central bank's statement shows that the exchange rate will not have room for further sharp depreciation, which can dispel the market's doubts. Judging from the recent exchange rate trend, it has kept a high level and fluctuated sideways. This week's closing did not fall below 7.26, so although it temporarily returned below 7.3, in fact, the depreciation trend in the medium term has not changed substantially. There is nothing to worry about in this position. In the future, we are optimistic about gradual appreciation, but the process will be slower.The relevant person in charge of the Monetary Policy Department of the People's Bank of China said that next year, we will deepen the market-oriented reform of the exchange rate, strengthen the management of exchange rate expectations, effectively respond to external shocks, resolutely guard against the risk of exchange rate overshoot, and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. The People's Bank of China will also improve the overall effectiveness of policies in accordance with the requirements put forward by the Central Economic Work Conference.The central bank's statement shows that the exchange rate will not have room for further sharp depreciation, which can dispel the market's doubts. Judging from the recent exchange rate trend, it has kept a high level and fluctuated sideways. This week's closing did not fall below 7.26, so although it temporarily returned below 7.3, in fact, the depreciation trend in the medium term has not changed substantially. There is nothing to worry about in this position. In the future, we are optimistic about gradual appreciation, but the process will be slower.