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2.3 Market stability improvementMarket scale growth: The inclusion of index funds is expected to attract more individual pensions to participate, thus increasing market scale and improving market liquidity.1.2 Impact of market expansion

1.2 Impact of market expansionMarket scale growth: The inclusion of index funds is expected to attract more individual pensions to participate, thus increasing market scale and improving market liquidity.2. The influence of index funds into individual pensions

The expansion of individual pension system is an important step in the development of multi-level pension insurance system in China, aiming at meeting the challenges brought by the aging population. According to the latest policy, the personal pension system will be extended to the whole country on December 15th, 2024, and the first batch of 85 equity index funds will be included in the catalogue of personal pension investment products. The implementation background of this policy is mainly based on the following points:The influence of the first batch of 85 index funds on market expansion is mainly reflected in the following aspects:Underdevelopment of the third pillar: Compared with developed countries, the scale of the second and third pillar pensions in China is relatively low, which needs to be promoted through policy guidance.