Lo Zhi-heng, Chief Economist of Guangfa Securities: It is necessary to expand total demand through fiscal policy.

The Central Political Bureau meeting held on April 25 emphasized the need to accelerate the implementation of more proactive macroeconomic policies, and to make good use of more proactive fiscal policies and moderately loose monetary policies. Local government special bonds and ultra-long-term special national bonds should be issued and used more quickly. "This Central Political Bureau meeting continues the language of the Central Economic Work Conference, calling for 'accelerating' and 'making good use of' fiscal policies, which is determined by the current situation," said Luo Zhiheng, Chief Economist of Yu Kai Securities, in an interview with reporters. It is necessary to expand total demand, prevent and resolve local debt risks, and clear arrears to ensure smooth economic circulation through fiscal policies.