[The policy side releases positive signals to guide the counter-cyclical layout of public offerings to anchor long-term value] On October 20, the China Securities Regulatory Commission approved the registration of the first batch of 18 active ETFs; the "Measures for the Operation and Management of Publicly Offered Securities Investment Funds" ushered in systematic revisions; new model floating fee funds continued to expand... Recently, a series of policy signals point to one direction - guiding funds to deploy equity assets at low market levels and hold them firmly amid fluctuations. In this regard, the interviewed institutions said that the policy's firm attitude towards protecting the capital market is conducive to boosting market confidence. From a mid- to long-term perspective, the "basic market" that determines the long-term growth of A-shares is continuing to strengthen, and the foundation for high-quality development represented by the technological innovation industry remains clear. "When there are tailwinds, we can easily see foreseeable room for growth, but when there are headwinds, it is the real test of investors' ability to leave investment to time and be patient for the long term." said a person in charge of a fund company in Shanghai. (Shanghai Securities News)