中央经济工作会议：灵活高效运用降准降息等多种政策工具，保持流动性充裕

Core Viewpoint - The central economic work conference emphasizes the need for a stable yet progressive economic policy approach, focusing on quality and efficiency improvements while enhancing macroeconomic governance effectiveness [1] Fiscal Policy - The government will continue to implement a more proactive fiscal policy, maintaining necessary fiscal deficits, total debt scale, and overall expenditure [1] - There will be an emphasis on optimizing the structure of fiscal expenditures and regulating tax incentives and fiscal subsidy policies [1] - Addressing local fiscal difficulties and ensuring the "three guarantees" at the grassroots level will be prioritized [1] Monetary Policy - A moderately loose monetary policy will be maintained, with a focus on promoting stable economic growth and reasonable price recovery [1] - The use of various policy tools such as reserve requirement ratio cuts and interest rate reductions will be flexible and efficient [1] - The aim is to keep liquidity ample and ensure smooth transmission of monetary policy, supporting key areas like domestic demand expansion, technological innovation, and small and micro enterprises [1] Policy Coordination - There will be an enhancement of consistency and effectiveness in macro policy orientation, integrating various economic and non-economic policies [1] - A mechanism for managing expectations will be established to boost social confidence [1]