CITIC Securities research report believes that on October 12, the State Council Information Office held a press conference, with Minister of Finance Lán Fú'ān introducing the relevant situation of "increasing the intensity of pro-cyclical adjustment of fiscal policies and promoting high-quality economic development". The meeting introduced multiple specific and practical incremental policies, clarified risk resolution, and also pointed out that the central finance still has a large space for debt issuance, conveying bullish signals for fiscal policies to boost market expectations. Specifically, the following important deployments are worth noting: 1) Intensifying debt resolution, planning to once again significantly increase the debt limit to replace the hidden debts of local governments. 2) Clearly supporting state-owned banks to replenish Tier 1 capital, enhancing the risk resistance ability of state-owned banks. 3) Introducing special bonds to collect idle land, to acquire and store land, and related tax policies, demonstrating the determination of fiscal actions to stabilize the real estate market. 4) Consolidating grassroots "Three Guarantees" expenditures, further boosting policies for student financial aid. 5) Improving people's livelihoods and promoting consumer spending are the key focus of future fiscal policies. 6) Clearly stating that special bonds can be used to acquire existing housing for affordable housing, as well as resolving debts of existing government investment projects.