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This is very close to the time when the full draft of the meeting was released. Let me show you some of the contents: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.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.

Then there is "improving investment efficiency". I want to tell you here that improving investment efficiency is not to improve investment yield, and we can't draw an equal sign directly. There is only one sentence directly related to the stock market in the full text:Promote the integrated development of scientific and technological innovation and industrial innovation, stabilize the property market and stock market, and prevent and resolve risks and external shocks in key areas.Fiscal policy and monetary policy are important ways to regulate the economy.

The prefix of "more active" fiscal policy last year was "active" fiscal policy, so a comparison is a progressive relationship;If you carefully understand these changes in wording, you can feel the great difference.The prefix of "more active" fiscal policy last year was "active" fiscal policy, so a comparison is a progressive relationship;