财政部最新政策点评：从配置资源到配置风险

Policy Overview - The Ministry of Finance plans to introduce a series of targeted incremental policy measures to enhance counter-cyclical fiscal policy and promote high-quality economic development[2] - The shift from "extensive borrowing" to "risk clearing and cyclical repair" aims to reshape the new balance of domestic economic growth[2][3] Fiscal Framework Changes - Traditional fiscal policies are becoming less effective due to significant changes in the global political and economic landscape, as well as domestic industrial transformation[3] - The new fiscal policy framework focuses on minimizing common risks in high-quality development, addressing both macro and microeconomic challenges[4] Future Policy Goals - The policy aims to improve micro risk governance through public goods expenditure and accelerate the clearing of stock risks using debt instruments[6] - Key objectives include promoting public product iteration, enhancing future risk expectations, and improving the capacity for risk tolerance among the population[6] Risk Considerations - Potential risks include slower-than-expected industrial transformation and delays in policy implementation[7]