On April 7, the three major A-share indices opened sharply lower. The market fell sharply in the morning, and the two markets fluctuated downward in the afternoon, and the Shanghai Composite Index fell below the 3100-point mark. As the end of the trading session on the 7th, Central Huijin Company announced that Central Huijin Company was firmly optimistic about the development prospects of China's capital market, fully recognized the current A-share allocation value, and has once again increased its holdings in trading open-end index funds (ETFs). It will continue to increase its holdings in the future and resolutely maintain the stable operation of the capital market. Stimulated by this news, the three major stock indexes rebounded, and the decline narrowed significantly. As of the close, the Shanghai Composite Index fell 7.34% to 3096.58 points; the Shenzhen Component Index fell 9.66% to 9364.5 points; and the ChiNext Index fell 12.5% ​​to 1807.21 points.

After Central Huijin, on the night of the 7th, CCTV News released news one after another, and China Chengtong and China Guoxin increased their holdings one after another. Chengtong Financial Holdings and Chengyang Investment, a subsidiary of China Chengtong, have increased their holdings of trading open-end index funds and central enterprise stocks, resolutely maintaining the smooth operation of the capital market. As the capital operation platform of the State-owned Assets Supervision and Administration Commission of the State Council, China Chengtong is firmly optimistic about the development prospects of China's capital market. It will further play the role of state-owned capital operation companies in the future, continue to increase its holdings of central state-owned enterprises and technology innovation stocks, be a long-term investor of listed companies, and strongly support the high-quality development of listed companies.

China Guoxin also expressed that it is firmly optimistic about the development prospects of China's capital market and is determined to be long-term capital, patient capital and strategic capital. Its subsidiary Guoxin Investment Co., Ltd. increased its holdings of central enterprises, scientific and technological innovation stocks and ETFs, actively supported scientific and technological innovation in key areas, and contributed to maintaining the stable operation of the market.

China Electronics Technology Co., Ltd. released a news on its official website in the early morning of the 8th. Based on its firm confidence in the long-term improvement of my country's economy, China Electronics Technology Co., Ltd. actively fulfilled its commitment to the capital market and has completed the increase in holdings and repurchase of its listed companies' shares by more than 2 billion yuan. China Electronics Technology will continue to fulfill its mission and responsibility as a "heavy weapon of a great country", continuously strengthen scientific and technological innovation and industrial coordination, accelerate the implementation of increased holdings and repurchases, provide strong support for the high-quality development of listed companies, safeguard the interests of the majority of investors, enhance investor confidence, and stabilize and enhance the value of listed companies.

Public information shows that Central Huijin Company is a wholly state-owned company, which represents the state to exercise its rights and obligations to investors of key financial enterprises such as state-owned commercial banks in accordance with the law. The responsibilities of important shareholders of Central Huijin Company are exercised by the State Council. China Chengtong is a central enterprise supervised by the State-owned Assets Supervision and Administration Commission of the State Council. It was formed by the merger of material distribution enterprises directly under the Ministry of Materials. It undertakes the acquisition, allocation, warehousing and distribution tasks of important national means of production directive plans, and plays the role of "main channel of circulation" and "reservoir" in the national economy. China Guoxin is one of the central enterprises supervised by the State-owned Assets Supervision and Administration Commission of the State Council. China Electronics Technology Group Co., Ltd. is an important state-owned backbone enterprise directly managed by the central government. It is the main force of my country's military industry electronics, the national team of the Internet and information industry, and the national strategic scientific and technological force.

A total of 106 stocks in the two markets rose on that day, and 5,284 stocks fell. The total transaction volume of the two markets was 1587.8 billion yuan, a significant increase of 450.2 billion yuan from 1137.6 billion yuan in the previous trading day.

CICC believes that the A-share market is resilient in the short term, with medium-term opportunities exceeding risks, and short-term allocation is mainly stable, and technology is still the main line in the medium term. Overall, the uncertainty of short-term tariff policies and the contagiousness of global market fluctuations may bring volatility to Chinese assets, but the expected impact is lower than that of other major markets. Chinese assets are resilient in the short term compared to global stock markets. In the medium term, the transformation of geopolitical narratives and technological narratives improves market expectations, promotes global capital relocation, and combined with the valuation advantages of the Chinese market, there is a lot of room for policy response and is expected to make active efforts. If the policy is properly handled, the market risk premium is expected to continue to improve, and the "China Asset Revaluation" is still in progress.

CITIC Securities holds the same view, believing that from the perspective of market resilience, A-shares are better than Hong Kong stocks and US stocks, which is mainly determined by the investor structure. In the short term, we cannot price all negative prices, nor can we amplify the rationality of panic decline. Since tariffs remain variable and economic recession will not occur immediately, it is expected that the trading framework for global investors will remain recession expected transactions, focusing on reducing wind bias and waiting and waiting. In the medium term, the sectors that are truly affected by the global economic recession and are in line with China's long-term strategy and policy direction are only independent technologies driven by real innovation, but in the short term, they are the sectors that are most affected by emotional fluctuations. "Who is more pessimistic to drive selling decisions" and "Who is more determined to drive low-buy decisions" may continue to confront each other. The sector will usher in the best buying point for the whole year in this round of adjustments.