Xinhua News Agency commented that the central government has a large room for borrowing and deficit improvement. Looking forward to the closing year of the 14 th Five-Year Plan in 2025, the space for fiscal policy development has attracted much attention.The activity of the stock market has recovered, both the Shanghai Composite Index and the Entrepreneurship Index are on the rise, and the market as a whole is in a state of bullish momentum.Policy expectation:
According to the data of the State Administration of Foreign Exchange, by the end of November, 2024, China's foreign exchange reserves were US$ 3,265.9 billion, up US$ 4.8 billion from the end of October, and its gold reserves also increased.The audit authority of local government special debt projects may be delegated to the provincial level, and 12 provinces are expected to land, which may affect the financial operation and investment projects of local governments.
In terms of capital, the Shanghai and Shenzhen 300 and A500 indexes have seen capital outflows, but the inflow of financing has increased and the outflow of foreign capital has increased, showing the shock and wait-and-see attitude of market funds.By the end of the third quarter, the total scale of asset management products of various institutions reached 72.04 trillion yuan, showing the huge scale of the asset management market.Macroeconomic policies:
Strategy guide 12-13
Strategy guide 12-13
Strategy guide 12-13
Strategy guide
12-13