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] Group 1: Policy Directions - The conference advocates for a more proactive fiscal policy, maintaining necessary fiscal deficits and total debt levels, while optimizing fiscal expenditure structure and regulating tax incentives and subsidies [1] - There is a strong emphasis on addressing local fiscal difficulties and ensuring the basic financial security of grassroots levels [1] - The need for a moderately loose monetary policy is highlighted, with a focus on promoting stable economic growth and reasonable price recovery as key considerations [1] Group 2: Implementation Strategies - The use of various policy tools such as reserve requirement ratio cuts and interest rate reductions is encouraged to maintain ample liquidity and facilitate the transmission of monetary policy [1] - Financial institutions are urged to increase support for expanding domestic demand, technological innovation, and small and medium-sized enterprises [1] - The conference stresses the importance of maintaining the stability of the RMB exchange rate at a reasonable and balanced level [1] Group 3: Policy Coordination - There is a call for enhancing the consistency and effectiveness of macroeconomic policy orientations, integrating various economic and non-economic policies into a cohesive evaluation framework [1] - The establishment of a sound expectation management mechanism is deemed necessary to boost social confidence [1]