财政部发布会预告短期增量政策措施，指明中期政策方向

Group 1: Macroeconomic Policy Insights - The Ministry of Finance announced a significant increase in local government debt limits to address hidden debt risks, with a planned allocation of CNY 3.4 trillion for 2023-2024[1] - Special government bonds are expected to be issued to inject capital into state-owned banks, with estimates suggesting the scale could reach at least CNY 1 trillion[1] - The government plans to allow special bonds to be used for acquiring existing housing or land, with a total of CNY 2.3 trillion in special bond funds available for the next three months[2] Group 2: Economic Stimulus Measures - The government is expected to issue CNY 2-3 trillion in special bonds to stimulate consumption and stabilize investment, focusing on bank capital injections and debt resolution[1] - The Ministry of Finance indicated that additional policies may be introduced if current measures do not meet expectations, particularly in the real estate sector[2] - The central government has allocated CNY 4 billion from local government debt limits to enhance local fiscal capacity, indicating a reluctance to issue more special bonds for fiscal gaps[2] Group 3: Future Policy Directions - The Minister of Finance signaled that there is significant room for increasing the fiscal deficit rate, which may exceed 3% in the coming years[2] - Future reforms will focus on improving the budget system and fiscal transfer support mechanisms, suggesting ongoing fiscal stimulus beyond the current measures[2] - The upcoming meetings in December and March will be crucial for further policy announcements and economic strategies[1]