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Steady is the key word. Our goal is not to stimulate the stock market, but to develop the economy and transmit it to the economy.If you carefully understand these changes in wording, you can feel the great difference.

Implement a more active fiscal policy and a moderately loose monetary policy.Promote the integrated development of scientific and technological innovation and industrial innovation, stabilize the property market and stock market, and prevent and resolve risks and external shocks in key areas.Implement a more active fiscal policy and a moderately loose monetary policy.

Overall, this is a good thing for A shares.The prefix of "more active" fiscal policy last year was "active" fiscal policy, so a comparison is a progressive relationship;The prefix of "more active" fiscal policy last year was "active" fiscal policy, so a comparison is a progressive relationship;