The need to activate the capital market and boost investor confidence has put forward more urgent requirements for strengthening investment side reform. Among them, strengthening Dali's medium - and long-term investment strength of Sexual maturity is the key link, and it is also a key project of the A-share market. At present, the market environment is undergoing new changes, and the entry of long-term money into the market is facing new challenges. Accelerating the construction of a "reservoir" of long-term money focuses on optimizing the institutional design of the "long-term flow" of flowing water, cultivating an investment culture that anchors the value of "long-term investment", and creating a market ecology conducive to the "long-term retention" of long-term money. Medium - and long-term funds are the "stabilizers" for the healthy operation of the capital market. From the perspective of mature international securities markets, markets with a large proportion of medium to long-term funds generally have strong risk resistance and fast self correction ability, playing a "ballast stone" role in maintaining stable market operation and enhancing investor confidence. In recent years, the A-share market has focused on building an institutional environment where long-term funds are willing to come and stay. The proportion of medium to long-term funds entering the market has significantly increased, and their influence and discourse power in the market are becoming greater. However, it cannot be denied that the A-share market still faces problems such as insufficient scale and proportion of long-term funds, and the operation of "retail investors". Since the beginning of this year, in the face of challenges such as unstable economic recovery expectations and inverted interest rate differentials between China and the United States, the A-share market has generally shown a volatile trend, with poor performance of equity products. The role of long-term money in enhancing investor confidence is not significant. To effectively implement the new requirements of "activating the market and boosting confidence", in the process of strengthening investment side reform, it is necessary to accelerate the establishment and improvement of institutional mechanisms that are conducive to the "long-term flow", "long-term investment", and "long-term retention" of long-term money, and build a solid and deep "reservoir" of long-term money. Optimizing the institutional design of long-term funds is the foundation for the development and growth of medium to long-term funds. One of the main reasons for the high proportion of long-term funds in some mature overseas stock markets is the establishment of a long-term stable pension entry system for funding supply. China's multi-level elderly care system is constantly improving, and we can continue to strengthen the two-way promotion between pension and capital markets by expanding the proportion of market entry and investment scope, lowering the threshold for establishing enterprise annuities, and increasing tax incentives. As for the personal pension system that has already solved the problem, it can be timely promoted and expanded based on the summary of pilot experience, and improved in terms of increasing the limit limit, enriching investment varieties, and enhancing the convenience of investors' operations. Cultivating a market culture that supports long-term investment is the key to the development and growth of medium to long-term funds. Professional investment institutions, especially those with medium - and long-term attributes, should practice the concept of long-term investment and Value investing, and strive to obtain long-term growth gains rather than short-term stock price fluctuations. At present, it is necessary to improve the long-term assessment mechanism for insurance, fund and other institutions, and effectively change the current situation of short-term assessment of long-term funds; Explore the implementation of diversified long-term incentive and constraint mechanisms to better achieve the sharing of interests and risks between asset management institutions and investors; Continue to expand openness, attract excellent overseas professional institutions, and enrich the types of medium - and long-term equity products. Creating a market ecosystem that is conducive to long-term money retention is an important guarantee for the development and growth of medium to long-term funds. Continuously implement the requirement of "zero tolerance", strictly crack down on illegal and irregular behaviors such as financial fraud, insider trading, and stock price manipulation, and maintain an open, fair, and just market order; Improve the Administrative Department