Core Viewpoint - The current macroeconomic policies should focus on reinforcing price targets and enhancing fiscal policies to assist local governments in managing debt issues [1] Group 1: Debt Issues - The importance of addressing debt issues is emphasized, as high debt burdens can harm the balance sheets of micro entities, leading to reduced consumption and investment, which exacerbates price declines [2] - To break the low price cycle, it is crucial to lower debt and repair the balance sheets of micro entities through debt replacement and restructuring [3] Group 2: Real Estate Market - Stabilizing the real estate market is a key measure to address current debt problems, with suggestions to support local governments and households in capital replenishment [3] - The real estate market requires both policy support and financial resources to transition from expansion to quality improvement, with specific measures for first-tier cities to relax purchase and loan restrictions [6] Group 3: Economic Policies - Five policy recommendations are provided to stabilize the economy, including setting a nominal GDP growth target and implementing expansionary fiscal policies [5] - Emphasis is placed on the need for counter-cyclical management of debt, allowing for higher tolerance during economic pressures [5] Group 4: Long-term Reforms - Long-term reforms and opening up are necessary, particularly in the service sector, to attract high-quality foreign direct investment and promote the development of private enterprises [7]