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The fiscal policy mentioned above, the 1 trillion special national debt that we started to issue this year, belongs to fiscal policy. 300 billion yuan has been spent on the trade-in activities of home appliances and cars, and many families should enjoy this preferential treatment, which has an obvious effect on stimulating consumption. The year-on-year growth rate of total retail sales of consumer goods in September and October increased from 2.X to 4.8% in October.The market fluctuated slightly, but after the A-shares closed at 3 o'clock, the Hong Kong stocks that closed at 4 o'clock started a surge mode: Hang Seng Technology rose by 4.3%, Hang Seng Index rose by 2.76%, and the rising time was around 15: 20.Implement a more active fiscal policy and a moderately loose monetary policy.

If you carefully understand these changes in wording, you can feel the great difference.This is very close to the time when the full draft of the meeting was released. Let me show you some of the contents:

Therefore, consumption is our focus for a long time to come, and it is also often said: to open up the big cycle of domestic consumption. Next year, we will issue 1 trillion special treasury bonds and make a fuss about consumption.Steady is the key word. Our goal is not to stimulate the stock market, but to develop the economy and transmit it to the economy.After the terminal consumption, it has an obvious pulling effect on the middle industry, and the PMI in October and November has also returned to above 50.