政策周度观察：多渠道加大资本补充力度，“内卷式”竞争整治继续升级-20260329

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - The key policy focuses this week are to increase capital replenishment through multiple channels and continue to upgrade the rectification of "involution - style" competition [1][8][10] - Fiscal policy will emphasize investment in people, increase the proportion of public service expenditure and livelihood - related government investment [3][10] - Market supervision authorities will strengthen anti - monopoly law enforcement, guide enterprise compliance, and support enterprises to expand international markets [10] - The central bank will improve the financial risk prevention and resolution system, dispose of financial risks, and strengthen capital replenishment [10][12] 3. Summary by Directory 3.1 Policy Weekly Observation 3.1.1 This Week's Policy Highlights - Focus on three main points: adjustment of fiscal policy and government investment structure, rectification of "involution - style" competition, and improvement of the financial risk prevention and resolution system [10] 3.1.2 Specific Policy Review - Price Level: On March 23, 2026, the state implemented temporary regulation on refined oil prices. After regulation, domestic gasoline and diesel prices increased by 1160 yuan and 1115 yuan per ton respectively [9] - Fiscal Policy: On March 23, 2026, Minister of Finance Lan Fuan emphasized that fiscal policy should focus on investment in people, increase the proportion of public service expenditure and livelihood - related government investment [3][9][10] - Macro - economy: On March 23, 2026, President Xi Jinping put forward requirements for the high - quality construction and development of Xiongan New Area [11] - Diplomatic Policy: There were multiple diplomatic events, including meetings and phone calls, and announcements about Trump's planned visit to China and China's counter - investigations against the US [11] - Anti - involution Policy: Market supervision authorities held relevant meetings to strengthen anti - monopoly law enforcement and guide enterprise compliance [10][11] - Geopolitical: On March 25, 2026, COSCO Shipping resumed booking business to six Middle - East countries, with ships not passing through the Strait of Hormuz [11] - Industrial Policy: The State Council executive meeting focused on supporting the development of Xiongan New Area and the construction of a hierarchical diagnosis and treatment system [11] - Financial Work: On March 27, 2026, the central bank held a financial stability work meeting, aiming to improve the financial risk prevention and resolution system, dispose of risks, and increase capital replenishment [12]