China's manufacturing purchasing managers' index (PMI) for November has returned to expansion after falling below the threshold of 50 per cent for two months in a row. Market expectations are positive, which shows that the previous series of policies such as ensuring supply and stabilizing prices have achieved results, strengthening the confidence of stable expectations and stable growth. The opening year of the 14th five-year Plan is drawing to a close, and the current international environment is still complex and changeable, with many unstable and uncertain factors, and efforts are still needed to maintain economic stability and recovery. We will continue to maintain the continuity and stability of macro policies, enhance their effectiveness, strengthen cross-cyclical regulation, coordinate the convergence of macro policies this year and next, and earnestly implement various policies to help enterprises bail out. only in this way can we take a solid step forward in promoting the construction of a new development pattern.