It has a significant impact on the Shanghai and Shenzhen 300 heavyweights, constituent stocks and stock index futures concept stocks.

From some simple overseas experience, before the introduction of stock index futures, the increase of constituent stocks was greater than that of non-constituent stocks, but after the introduction, there was a short-term correction. In the long run, there is no obvious premium for constituent stocks. Of course, it depends on the timing of launch and the level of threshold setting.