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Major positive! Personal pension system is expected to be fully implemented.Fourth, the potential challenges to the capital marketMajor positive! Personal pension system is expected to be fully implemented.

I. Providing a long-term and stable source of funds for the capital marketWith the full implementation of the personal pension system, personal pension products are expected to be further expanded. Adding Y share of personal pension to mainstream broad-based index products will provide investors with more choices. This will promote the diversification and innovation of capital market products and meet the needs of more investors. At the same time, it will also promote the development of the capital market in a more mature and steady direction.

Major positive! Personal pension system is expected to be fully implemented.Second, promote product innovation in the capital market