In terms of information, the meeting of the Political Bureau of the Central Committee mentioned that the current economic development of our country is facing new risks and challenges, and the downward pressure of the domestic economy is increasing. We must strengthen the sense of suffering, grasp the long-term trend, seize the main contradictions, be good at turning dangers into opportunities, and do our own thing well. We must implement a positive fiscal policy and a sound monetary policy. Political policies should be strengthened to improve efficiency, continue to implement the policy of reducing taxes and fees in detail, monetary policy should be relaxed and moderate, and maintain reasonable and abundant liquidity. Overall, there are several key points. First, we should insist on the orientation of housing for living, not for speculation, implement the long-term management mechanism of real estate, and not use real estate as a short-term economic stimulus; second, we should stick to the orientation, implement the registration system with information disclosure as the core, and improve the quality of listed companies; third, we do not have any real estate management mechanism. If we think about "structural deleveraging", there will be loose expectations. Fourth, we should tap the potential of domestic demand, expand the ultimate demand, effectively start the rural market, and use reform methods to expand consumption. Combining with market analysis, there are expectations for the downward market of the economy, and the more worrying is that there is no liquidity liberalization and policy support. Then it is clear that no real estate is needed to stimulate the economy. Economic transformation depends on the development of scientific and technological innovation and the expansion of consumption. Then, science and technology and consumption will continue to attract funds in the later period, especially in the 5G industry chain. The logic of technical stocks is the smoothest; in the short term, the closing and falling of European and American stock markets affect the opening of the market, and the subject matter of debt-to-equity swap yesterday has a certain plate effect, leading Hyde shares are the only fully-owned AMC target of A shares.