博时市场点评1月21日：两市拉锯上涨，有色表现领先

Group 1 - The core viewpoint of the news is the implementation of a comprehensive policy package by the Ministry of Finance aimed at boosting domestic demand through fiscal and financial collaboration, which includes interest subsidies and a guarantee plan [1][2][8] - The policy package includes a 500 billion yuan special guarantee plan for private investment, a 1.5 percentage point interest subsidy for fixed asset loans to small and micro enterprises, and an extension of personal consumption loan interest subsidies until the end of 2026 [2][8] - The policies are designed to address the reluctance of private enterprises to invest and the cautious consumption behavior of residents, thereby stimulating investment and consumption demand in the short term [1][2][9] Group 2 - The fiscal policy aims to maintain necessary levels of fiscal deficit, total debt, and expenditure, ensuring that overall spending increases while focusing on optimizing the structure and enhancing effectiveness [2][9] - The announcement of supportive measures for urban renewal is expected to lower project implementation barriers and institutional costs, thereby accelerating project execution and stimulating demand in traditional sectors such as infrastructure and construction [9][10] - The positive fiscal stance combined with structural monetary policy is anticipated to provide dual support for macroeconomic stability and growth [9]