Luo Zhiheng, chief economist at Guangdong Development Securities, said that “being more active” requires that the intensity of fiscal spending is guaranteed. The deficit rate is expected to be no less than 4% next year. The amount of new debt will continue to rise, and it is necessary to raise it to around 15 trillion yuan next year. According to Luo Zhiheng's analysis, in terms of optimizing the fiscal expenditure structure, it is expected that the investment of financial resources will achieve a shift from focusing on investment to equal emphasis on investment and consumption, from focusing on supply and demand, and from focusing on enterprises to putting equal emphasis on households, further favoring residents and people's livelihood security, increasing the amount of childcare allowances, extending the period of free preschool education, further increasing pensions for urban and rural residents, and repairing the balance sheet of the residential sector.

Luo Zhiheng, chief economist at Guangdong Development Securities, said that “being more active” requires that the intensity of fiscal spending is guaranteed. The deficit rate is expected to be no less than 4% next year. The amount of new debt will continue to rise, and it is necessary to raise it to around 15 trillion yuan next year. According to Luo Zhiheng's analysis, in terms of optimizing the fiscal expenditure structure, it is expected that the investment of financial resources will achieve a shift from focusing on investment to equal emphasis on investment and consumption, from focusing on supply and demand, and from focusing on enterprises to putting equal emphasis on households, further favoring residents and people's livelihood security, increasing the amount of childcare allowances, extending the period of free preschool education, further increasing pensions for urban and rural residents, and repairing the balance sheet of the residential sector.