In July, I reflected on the overall market logic and proposed the era of Fiscal Expansion 2.0. The core logic: the Great Beauty Act signifies Fiscal Expansion 2.0 + industry expansion driven by new technologies (AI + Crypto, with AI accelerating further) + the return to a rate-cutting cycle representing continued limited easing, signaling the start of a brand-new economic cycle, along with the driving logic of integrated fiscal and industrial policies. Looking back now, everyone should feel it more deeply.