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Second, high deficit, special national debt and special debt quota. The fiscal policy in 2025 will be more active and promising, and it is expected to increase the deficit ratio, special national debt and special debt quota. In 2024, the fiscal deficit ratio will be arranged at 3%, and the scale of ultra-long-term special bonds will be 1 trillion yuan, and the amount of new special bonds for local governments will be 3.9 trillion yuan. It is estimated that the government's borrowing will increase significantly in 2025.The implementation of these policies aims to stabilize expectations, stimulate vitality, promote sustained economic recovery, continuously improve people's living standards and maintain social harmony and stability. Through these measures, the government hopes to promote economic growth, improve people's quality of life, and lay a solid foundation for achieving a good start in the Tenth Five-Year Plan.While resolving the crisis, local governments have much to offer.

The implementation of these policies aims to stabilize expectations, stimulate vitality, promote sustained economic recovery, continuously improve people's living standards and maintain social harmony and stability. Through these measures, the government hopes to promote economic growth, improve people's quality of life, and lay a solid foundation for achieving a good start in the Tenth Five-Year Plan.The implementation of these policies aims to stabilize expectations, stimulate vitality, promote sustained economic recovery, continuously improve people's living standards and maintain social harmony and stability. Through these measures, the government hopes to promote economic growth, improve people's quality of life, and lay a solid foundation for achieving a good start in the Tenth Five-Year Plan.

Second, high deficit, special national debt and special debt quota. The fiscal policy in 2025 will be more active and promising, and it is expected to increase the deficit ratio, special national debt and special debt quota. In 2024, the fiscal deficit ratio will be arranged at 3%, and the scale of ultra-long-term special bonds will be 1 trillion yuan, and the amount of new special bonds for local governments will be 3.9 trillion yuan. It is estimated that the government's borrowing will increase significantly in 2025.Four important messages from important meetings are the most powerful support for the slow bull market in the stock market.After more than a decade, it will be relaxed, which shows the directional measures to ease the economic pressure.