On October 12, the Ministry of Finance introduced the relevant situation of "increasing the intensity of fiscal counter-cyclical adjustment policies and promoting high-quality economic development" at the press conference of the State Council Information Office. During the meeting, the Ministry of Finance mentioned that a targeted set of incremental policy measures will be successively introduced in the near future. The Haitong Macro Liang Zhuohua team's interpretation of this meeting: Fiscal cycle, the opening of the prelude! Research reports believe that the Ministry of Finance emphasizes that "there are other policy tools currently under research. The central government still has a large amount of room for debt and deficit increases." Although the specific arrangements for fiscal funds will need to be made public after going through the legal procedures, the positive attitude expressed at this conference reflects a change in fiscal stance. During today's press conference, the Minister of Finance clearly stated that counter-cyclical measures have other policy tools currently under research, such as the central government still having a significant amount of debt-raising space and deficit-increasing space. The Haitong Macro Liang Zhuohua team believes that based on the need for stable economic growth, there is room and willingness for fiscal policy to continue to exert force next year.