The Measures for the Administration of Investment in Basic Endowment Insurance Funds clarify that pension funds are limited to domestic investment. Among them, the proportion of investment in stocks, stock funds, hybrid funds and stock-based pension products shall not be higher than 30% of the net asset value of pension funds; Participating in stock index futures and treasury bond futures trading can only be for the purpose of hedging.

The entry of pensions into the market is conducive to the preservation and appreciation of pensions and the stable development of the capital market. It is a major policy of the capital market and is conducive to stabilizing market expectations. A person from a fund management company in Shanghai said that pensions entering the market can stabilize market expectations. However, judging from the preparation of relevant funds to enter the market in the past, after the promulgation of the measures, the opening of positions will not be completed in a short time, and the actual investment may take three months or even six months to officially start. Therefore, the long-term benefits of pensions to A shares will be gradually released. From this perspective, the short-term index will show a little performance under favorable stimulus, but it may be later.