Bai Zhong'en, Dean of the School of Economics and Management at Tsinghua University and Vice Chairman of the All-China Federation of Industry and Commerce, stated that in the understanding and implementation of policies, there are sometimes cognitive biases that constrain us. Breaking these constraints is crucial for our understanding and execution of policies. The first cognitive bias is the belief that helping local governments repay debts by the central government will lead to moral hazard. The second cognitive bias is that some people in the past insisted that the deficit should not exceed a certain ratio and that debt should not exceed a certain ratio. He bluntly said that the limits on debt and deficit should also consider both short-term and long-term perspectives. In the long term, we cannot continuously have too much deficit or debt. Thus, in special circumstances in the short term, we should allow the deficit and debt to exceed certain ratios.