Morgan Asset Management believes that the Ministry of Finance's press conference emphasized that the central government still has considerable borrowing space and room for deficit increases, preserving room for reinforcing future fiscal policies. From a specific policy perspective, Morgan Asset Management indicates that the support for debt restructuring is significant, intending to substantially increase the debt limit at once to replace local government's existing hidden debt, and intensify support to help local governments resolve debt risks. This move can be described as a 'timely rain', with expectations of reduced pressure on local governments and potentially more resources to support economic development. In addition, the Ministry of Finance, in coordination with relevant departments, will lower the housing provident fund loan interest rates to reduce home purchase costs, introduce a phased individual income tax refund policy for home purchases, support the optimization of indemnificatory apartment supply, and address risks from the demand, supply, and resolution aspects to stabilize the real estate market. Furthermore, the issuance of special government bonds to support large state-owned commercial banks in supplementing core Tier 1 capital is also worth noting, as it can both prevent financial risks and aim to infuse the real economy through the financial leverage of banks, potentially boosting residents' consumption and business investment willingness.