The State Council executive meeting held on April 18th proposed to continuously stabilize the stock market and promote the stable and healthy development of the real estate market. Once the relevant measures are launched, they should directly reach enterprises and the public, improve implementation efficiency, and ensure implementation effectiveness. The above content not only implements the spirit of last year's Central Economic Work Conference, but also emphasizes "sustainability". The author believes that this deployment has profound and significant implications. Firstly, the strategic position of the capital market in the overall macroeconomic situation is increasing. As a barometer of the economy, the stability of the stock market is crucial for improving expectations, boosting confidence, and promoting consumption and investment. The Central Economic Work Conference held in December last year emphasized the need to stabilize the real estate and stock markets. At the beginning of this year, the China Securities Regulatory Commission (CSRC) held the 2025 System Work Conference, and when deploying this year's work, the first important task was proposed to adhere to the principle of stability and make every effort to form and consolidate the market's momentum of stabilization and improvement. This year's "Government Work Report" for the first time included "stabilizing the real estate and stock markets" as an overall requirement, and put forward specific requirements, indicating that the top-level design attaches increasing importance to the capital market, and the hub function of the capital market supporting high-quality development of the real economy is increasingly strengthened. Secondly, the market stabilization mechanism will maintain policy coherence, stability, and synergy. The term 'sustained' in the 'sustained stability of the stock market' proposed at this session of the National Standing Committee implies that the market stabilization mechanism is not a short-term action, but a long-term and sustained process, reflecting the coherence, stability, and synergy of policies. At the beginning of April, the market experienced an irrational fluctuation. At the critical moment, the People's Bank of China, the Securities Regulatory Commission, the State Administration of Financial Supervision and Administration, the State owned Assets Supervision and Administration Commission of the State Council and other departments made intensive deployment. The central bank made it clear that "adequate liquidity support should be provided when necessary". The "national team" such as Central Huijin Corporation actively played the role of "quasi stabilization fund". The "real gold and silver" of central enterprise groups, financial institutions, and listed companies increased their holdings and repurchases. The "combined efforts" of multiple departments to stabilize the market not only stabilized market fluctuations, but also effectively guided market expectations. From this perspective, the market stabilization mechanism, through the coherence of institutional supply and the precise coordination of policy tools, is not only an emergency response to short-term risks, but also a long-term layout for promoting high-quality development of the capital market. Thirdly, the policy toolbox for stabilizing the market is well stocked. The latest statement from the National People's Congress on stabilizing the stock market also means that we have sufficient policy reserves to 'sustain' and 'stabilize' the stock market. In fact, from the establishment of two capital market support tools by the central bank in 2024, namely securities, fund, and insurance company exchange convenience and stock repurchase and refinancing, to the government work report in 2025 proposing to "strengthen strategic strength reserves and stabilize market mechanism construction", and to the recent coordinated efforts of multiple departments to stabilize the capital market, China's market stability mechanism has become increasingly mature, and the toolbox of market stability policies has become increasingly rich. In the future, under the background of more active fiscal policy and moderately loose monetary policy, the reserve ratio and interest rate reduction, special bonds, special treasury bond, and two structural monetary policy tools are well stocked, which can fully meet the requirements of "sustainable stability of the stock market". We must have firm confidence and believe that the Chinese capital market has the ability and conditions to stabilize and thrive. (New Society)