Xinhua Commentary: A more proactive fiscal policy must be more precise and powerful, and launch a policy "combination punch"

Xinhua Commentary released an article on the 26th titled "Observations on China's Economy in the First Quarter | Making Good Use of a More Proactive Fiscal Policy". The article pointed out that a recent meeting of the Political Bureau of the CPC Central Committee emphasized the need to vigorously implement a more proactive macroeconomic policy, make good use of a more proactive fiscal policy and moderately loose monetary policy, further sending a clear signal of better guiding the economy and society towards healthy development. In making good use of a more proactive fiscal policy, it is necessary to coordinate and make full use of the "toolbox" of preferred and accurate policies. Focusing on weak areas and key links in economic and social development, such as expanding domestic demand in all aspects, accelerating the cultivation of new productive forces, and ensuring and improving people's livelihoods, a more proactive fiscal policy should be more precise and powerful. The coordinated use of government bonds, fiscal interest subsidies, special funds, tax incentives, and other policy tools should be utilized to launch a policy "combination punch". At the same time, it is necessary to strengthen coordination with monetary, employment, industry, and regional policies to ensure coordinated efforts and form a joint force.