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The prefix of "more active" fiscal policy last year was "active" fiscal policy, so a comparison is a progressive relationship;This is very close to the time when the full draft of the meeting was released. Let me show you some of the contents:Good, return! China's assets broke out in an all-round way. What should we do on December 10th?

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:Fiscal policy and monetary policy are important ways to regulate 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.

The prefix of "moderately loose" monetary policy was "prudent" last year, and the prefix of "moderately loose" was adopted last time in 2010, which has not been used for more than ten years, so it is rare.If you carefully understand these changes in wording, you can feel the great difference.Fiscal policy and monetary policy are important ways to regulate the economy.