提升宏观经济治理效能，激活内生发展动力

Core Viewpoint - The article discusses the recent release of the "Suggestions" by the Central Committee of the Communist Party of China regarding the 15th Five-Year Plan, emphasizing the need for a more systematic and effective macroeconomic governance framework to support high-quality economic development. Group 1: Macroeconomic Governance - The "Suggestions" highlight the importance of enhancing macroeconomic governance efficiency and establishing a high-level socialist market economy system [1] - The focus is on optimizing the policy framework and execution mechanisms to support an economy driven by domestic demand, consumption, and endogenous growth [1] Group 2: Policy Coordination - There is a call for stronger strategic guidance and policy coordination to ensure consistency in macroeconomic policy orientation [2] - The need to break down departmental barriers and promote a unified policy approach is emphasized to achieve synergistic effects [2] Group 3: Fiscal Policy - The implementation of proactive fiscal policies will not only involve expanding fiscal spending but also improving spending efficiency and sustainability [2] - The establishment of a budget allocation mechanism centered on policy performance and project necessity is crucial for optimizing fiscal resource allocation [2] Group 4: Debt Management - The "Suggestions" propose accelerating the establishment of a long-term government debt management mechanism to address existing debt and prevent hidden debt expansion [3] - A comprehensive lifecycle management system for debt financing, budget constraints, risk warnings, and emergency responses is recommended [3] Group 5: Financial Sector Development - There is an emphasis on building a strong financial nation, with a focus on developing technology finance, green finance, inclusive finance, pension finance, and digital finance [3] - The financial system is expected to lead and shape future industries through innovative financial products and risk pricing mechanisms [3] Group 6: Capital Market Transformation - The capital market is transitioning from a financing-led model to a platform that coordinates investment and financing [4] - Systematic reforms are aimed at enhancing the quality of listed companies and improving shareholder return mechanisms to attract long-term capital [4] Group 7: Economic Development Model - The overall strategy aims to strengthen the coordination of fiscal and monetary policies while leveraging various policy tools to promote an economy driven by domestic demand and consumption [4]