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

Third, help the high-quality development of the capital marketFourth, the potential challenges to the capital market