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The prefix of "more active" fiscal policy last year was "active" fiscal policy, so a comparison is a progressive relationship;The prefix of "more active" fiscal policy last year was "active" fiscal policy, so a comparison is a progressive relationship;Overall, this is a good thing for A shares.

Implement a more active fiscal policy and a moderately loose monetary policy.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.This is very close to the time when the full draft of the meeting was released. Let me show you some of the contents:

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: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.The prefix of "more active" fiscal policy last year was "active" fiscal policy, so a comparison is a progressive relationship;