资本市场改革深化有望吸引更多长期资金持续入市。对长期资金而言,第一要务是保值增值。为此,它们需要相对稳定且具有超大容量的股市。反过来,股市价值中枢的稳定也需要不同类型的长线投资者相互制约、相互砥砺。总体而言,社保基金、养老金、商业保险资金发挥着主力军作用。除社保基金外,目前险资、企业年金等长期资金的相关委托管理机构均在内部建立起一整套的风险管理机制,在最大程度降低投资风险的前提下,均已 Deepening reform of the capital market is expected to attract more long-term funds into the market. For long-term funds, the first priority is to preserve and increase value. For this reason, they need a relatively stable and super-large stock market. In turn, the stability of the central value of the stock market also requires different types of long-term investors mutual restraint and mutual temper. Overall, social security funds, pensions and commercial insurance funds play a major role. In addition to social security funds, the relevant entrusted management agencies of the current long-term funds, such as insurance funds and enterprise annuities, have all established a set of risk management mechanisms internally. All these have been implemented under the premise of minimizing investment risks