策略点评：如何看待本轮“政策大礼包”？

Group 1 - The recent Politburo meeting on September 26, 2024, is notable as it focused on economic themes, which is rare for September meetings, indicating potential for significant policy implementation in the future [3][7] - The meeting emphasized a stronger commitment to stabilizing growth and enhancing the responsibility for economic work, with a clear shift towards more aggressive counter-cyclical policies compared to previous meetings [3][7] - The meeting highlighted the need for a proactive approach in implementing existing policies and introducing new measures, particularly in monetary and fiscal policies [7] Group 2 - The meeting called for an increase in the intensity of monetary policy adjustments, including lowering the reserve requirement ratio and interest rates, to support economic stability [7] - Fiscal policy was also emphasized, with a focus on ensuring necessary government spending and potentially issuing special bonds to stimulate investment [7] - The real estate sector received specific attention, with a directive to promote stabilization in the housing market and adjust housing purchase restrictions [4][7] Group 3 - Capital market policies were refined, with a focus on encouraging long-term funds to enter the market and supporting mergers and acquisitions of listed companies [4][7] - The meeting underscored the importance of addressing consumer demand and enhancing the living standards of low-income groups to stimulate consumption [7] - The report suggests that the adjustments in loan rates and housing policies could significantly impact consumer spending, particularly in sectors like home appliances and liquor [5][6]