粤开证券首席经济学家罗志恒：预计财政资金的投向将实现从重视投资到投资消费并重

Core Viewpoint - The chief economist of Guangdong Securities, Luo Zhiheng, emphasizes the need for a more proactive fiscal policy, with a projected deficit rate of no less than 4% and an increase in the scale of new debt [1] Fiscal Policy and Spending - There is a call for guaranteed intensity in fiscal spending, indicating a shift in focus from investment to a balanced approach between investment and consumption [1] - The structure of fiscal spending is expected to optimize, moving from an emphasis on supply to a balance between supply and demand, and from focusing solely on enterprises to also considering households [1] Social Welfare and Support - The fiscal policy aims to further tilt towards residents and social welfare, with plans to increase childcare subsidies, extend the free years of preschool education, and enhance urban and rural residents' pensions [1] - The goal is to repair the balance sheets of households, indicating a focus on improving the financial health of the population [1]