Stock Market Outlook: Change Is The New Normal.

The new orientation of China's economy is not only self assured, nor can it be changed at any time.

Here, without change, we will not be able to talk about the new.

Change has new directions.

Change is the new normal.

This is a very important understanding.

Economic work needs to change new and steady progress.

More needs to "change the new and steady progress."

Change is pformation, namely development, namely reform, namely innovation, is enterprising.

It is not in the outbreak of change, that is, no advance or retreat.

Retrogression is no way out.

The new spirit of the central economic work conference is summed up in the new and steady progress.

This means that the self absorbed way of thinking that people are accustomed to must also follow the example of getting rid of the old ones.

When it comes to "new directions", some people are eager to understand that the "L" vertical pole of China's economy has reached the bottom and has entered a "one" development pattern.

In fact, this self consistent positioning idea is incompatible with the changing new situations, new situations and new problems.

Although there has been some obvious improvement in the economic development since the three quarter of this year, what we have to face is not only the embarrassing dilemma, that is, the urgent and heavy pressure of pformation, including the US dollar plus interest and the undetermined risks brought by Trump's coming to the Sino US trade prospects.

The December 9th meeting of the Central Political Bureau, for the first time, raised the "steady progress" from the economic field to the height of the important principles of governing the country. This means that under the premise of stable employment, the GDP growth target may be lowered or weakened, providing more space for reform and pformation.

This should also be the general keynote of the central economic work conference.

With the new normal way of thinking, if China's economic growth target is lowered or weakened, it will not draw a conclusion that the economic growth rate is "getting worse".

In fact,

It is not necessary, but almost impossible to say, that the growth rate will return to the sustained high growth in the past.

Both the pressure of resources and the pformation of factors determine the potential growth rate of China's economic growth. It is no longer possible to act like a past in order to make extensive and low-end growth, and at the expense of quality, sacrifice the ecosystem and sacrifice sustainable development to maintain the so-called fast growth of lip service.

Innovation, coordination, green, openness and sharing will open the new practice of supply side structural reform, and realize the new development goal under the new normal with factor driven and innovation driven pformation. This is the new choice for China's economy in the new position of history.

Recently, due to changes in the money market environment, the capital side is showing a tight trend. The liquidity risk management of money market funds is facing a certain test.

The stock market is also inevitably faced with the need for risk prevention and response.

This is not a small irony and blow to the bull market theory that was once blindly optimistic.

In fact, the bull market complex is not incomprehensible. However, in the general trend of GDO target positioning, it is impossible for us to change the trend.

How can it not be easy to argue against the counter trend? In my view, no matter what the "reform cow" or "healthy cow" is, it is inevitable that it will become "flicker cow" because of "getting rid of reality and emptiness", which is self-evident.

The key to keeping pace with the times in China's stock market is not whether to build cattle or not, but rather to "go from the false to the real". That is to say, only when we stick to the premise of persisting in serving and supporting the real economy, can we become a barometer for reflecting the results of economic development, and our stock market will be able to "advance steadily" on the existing basis.

We must talk about regulation, not development, nor reform and innovation. We must be biased. We must not say that we can not talk about the positive role of serving and supporting the real economy. Moreover, we will inevitably interfere with or obstruct the normal development of the stock market. What is the bull market?

Economic work needs to "change new and steady progress", and the stock market needs to "change new and steady progress".

In any case, for our stock market, it is impossible for us to have any opportunity or room to be complacent.

Change is pformation, that is development, namely reform, namely innovation, that is, enterprising, that is, everything.

It is not in the outbreak of change, that is, no advance or retreat.

Retrogression is no way out.

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