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The personal pension system is expected to be fully implemented, which means that China's old-age security system will be further improved, and it will also have a far-reaching impact on the capital market. The following are my views on the impact of this move on the capital market:Major positive! Personal pension system is expected to be fully implemented.

I. Providing a long-term and stable source of funds for the capital market

Major positive! Personal pension system is expected to be fully implemented.Fourth, the potential challenges to the capital marketMajor positive! Personal pension system is expected to be fully implemented.